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In: Statistics and Probability

a life insurance purchased depend on the income of a sample of six peiple was collected....

a life insurance purchased depend on the income of a sample of six peiple was collected. The following represents the annual income( in thousands of dirhams) and value (in thousands of dollars) of life insurance policies for these people.
income 90 110 60 70 120 50
insurnace 380 450 150 250 750 110
a) apply the regression line method to find the regression line, considreing the annual income as the independent variable
b) Test the significance of the slope of the regression model at α=0.5
c)Use the determination coefficient to determine the proprtion of the varation in the Y variable that is explained by its linear realationship to the x variable.
d) Evaluate whether the correlation coefficent is significant at α=0.5
e) provide an estimate of y when x=0. what is the name associated with this value of Y?
f)Predict the amount of life insurance for a person with an annual income of $77,000
one of the people in the sample has an annual income of $110.000 and $452,000 of life insurance. What is the predicted value of life insurance for this person? What is the error for this observation?

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