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 RiskIndex 100 in 100's of points. The results are as follows Regression Analysis: AmtDamage 1000 versus Riskindex100 Analysis of Variance Source DF AdissAdMS F-Value P.Value 1 10881 10881.0 88.69 0.000 Riskindex100 1 10881 108810 88.69 0.000 Error Total Model Summary 83 10183 1227 84 21064 11.0766 51.66% 51.07% 48.80% Coefficients Term Constant Riskindex100 .508 0.S8S 942 0.000 100 Regression Equation AmtDamage1000 -22.84+5.508 Riskindex100 Cee SE Coe T-Value P-Value VIF 22.84 3.10 7.37 0.000 What is the Ha for the hypothesis B-0? O Ha: For each additional unit of Riskindex, amount of damages increases O Ha: B+0: Risk Index does affect amount of damages Ha; B+0; Risk Index does not affect amount of damages O Ha: B-0: Riskindex does not affect amount of damages

Explanation / Answer

Ha: Risk index does not affect the amount of damages.

Option C is correct.

Statistical conclusion: p - value = 0 so reject Ho; risk index does affect the amount of damages

Option D is correct.

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