A risk casualty company has 84 condo properties that have been damaged by fire,

Question

A risk casualty company has 84 condo properties that have been damaged by fire, flooding, and other causes. Each property had previously been assigned a risk index. The firm wants to find out the relationship between AmtDamage1000in $1000 and property RiskIndex100 in 100's of points. The results are as follows. Regression Analysis: AmtDamage 1000 versus Riskindex100 Analysis of Variance 108 10 Bac 0 DF Adi Ss Adi MS F-Value P-Value Source Regression 10881 Riskindex100 1 10881 1088LO 88.69 0000 Error Total Model Summary 88.69 83 10183 122.7 84 21064 11.0766 51.66% SL0796 4880% Coefficients Term CoeE SE Coe T-Value P-Value VIF 4 3.10 7.37 0.000 Riskindex100 5.508 0.58s 942 0.000 1.00 Regression Equation AmtDamage10002284+5.508 Riskindes100 What is true about the coefficient of determination? R2 is higher when the data fit the regression line more tightly Both B and C are correct A higher R2 is associated with a more accurate prediction of Yhat 48.8% of the variation in the risk index is accounted for by the regression equation

Explanation / Answer

True about coefficient of variation is R squarre higher when the data fit regression line more tightly and is associated with a more accurate prediction of Y hat

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