Mathematics, 06.08.2021 19:50 myiacoykendall

IHI Insurance have conducted a multiple linear regression analysis to predict the value of the number of annual claims incurred by a motor insurance policyholder (y) based on the age of the policyholder in years (x1) and the value of the car insured in thousands of dollars (x2). The analysis was based on a random sample of 500 policyholders. The ages in the sample ranged from 16 to 70 and the values of the cars in the sample ranged from $1,100 to $52,000. The multiple linear regression equation corresponding to IHI's analysis is: y^i = 13 + (-0.5)x1i + (0.1)x2i. Select whether the following statements regarding the multiple linear regression equation are true or false:

a. Holding x2 constant, a one year increase in x1 will result in a decrease of 0.5 in the predicted value of Y.
b. A 28 year old policyholder with a car worth $20,000 is predicted to make 29 claims.
c. Holding x1 constant, a one thousand dollar increase in x2 will result in an increase of 0.1 in the predicted value of Y.

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IHI Insurance have conducted a multiple linear regression analysis to predict the value of the numbe...

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