question archive You are interested in whether you can predict the amount of insurance premiums paid on a car by knowing the age of the car
You are interested in whether you can predict the amount of insurance premiums paid on a car by knowing the age of the car
Subject:StatisticsPrice:1.87 Bought7
You are interested in whether you can predict the amount of insurance premiums paid on a car by knowing the age of the car. You take a random sample of drivers and record the age of their car (in years) and the amount they pay in monthly insurance premiums. What type of hypothesis test is best suited to this situation?
One mean (sigma known)
One mean (sigma unknown)
Mean of the differences (paired samples)
Difference of two means (independent samples)
Several means (ANOVA)
One proportion
Difference of two proportions
Chi-Square test for independence
Slope of the regression line
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Answer:
Slope of the regression line
Reasoning:
Since there are two variables in the study amount of insurance premium paid and age of cars. so the slope test is the best method here.
