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Module 3: Decision Making
(Cost Estimation/Prediction Methods)
2. Scatter graph method
3. Regression analysis
Scatter graph and Regression Analysis Method Procedure
can be done in MS Excel Sheets
Module 3. REQUIREMENT
Regression Analysis:
A random sample of eight drivers insured with a company
and having similar auto insurance policies was selected.
The following table lists their driving experiences (in years)
and monthly auto insurance premiums.
1. Plot the scatter diagram and the regression line
2. Predict the monthly auto insurance premium for a driver with 10 years of driving experience..
