(Solved):
To study the factors that affect monthly premium paid for car insurance, a random sample of 138 ...
To study the factors that affect monthly premium paid for car insurance, a random sample of 138 customers who recently bought car insurance is taken. Researchers ran a regression of the premium paid by customers (in dollars) on the ages of their cars (in years), number of years since they obtained their driver's licenses (in years) and how long they usually use their cars each day (in hours).
What does the ANOVA in the middle table test? It tests H0:β1=β2 vs. Ha:β1=β2 It tests H0:β0=0 vs. Ha:β0=0 It tests H0:β1=β2=β3=0 vs. Ha: at least one βi(i=1,2 or 3) is not equal to zero. It tests H0:var(β1)=var(β2) vs. Ha:var(β1)=var(β2)