You work for an automobile insurance company. Your boss has assigned you the task of reviewing recent auto safety records and thinking about how that information may be relevant to your company. You...

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You work for an automobile insurance company. Your boss has assigned you the task of reviewing recent auto safety records and thinking about how that information may be relevant to your company. You found these data on the web.





HIGHWAY LOSS DATA INSTITUTE
(www.hwysafety.org)
AUTOMOBILE INSURANCE INJURY LOSSES (2000-01)

























































































































































































































































SMALL CARS






Model Rating




MID-SIZE CARS






Model Rating




LARGE CARS






Model Rating



A4 Quattro




63



Saab 9-3




58



Buick LeSabre




39



Audi A4




67



Buick Century




63



Bonneville




53



VW Beetle




69



Toyota Avalon




66



Grand Marquis




53



Volvo S40




82



Volvo S70




72



Buick Regal




57



VW Golf




91



Lexus ES




75



Olds Intrigue




58



Impreza




98



Saturn LS




76



Crown Victoria




63



Subaru G20




104



Acura




78



Concorde




66



Saturn SL




104



VW Passat




80



Chrysler LHS




66



Honda Civic




105



Infiniti I30




82



Chrysler 300M




70



VW Jetta




107



Maxima




94



Chevy Impala




73



Chevy Prizm




118



Chevy Malibu




97



Chevy Lumina




73



Ford Focus




120



Olds Alero




97



Grand Prix




74



Acura Integra




133



Cirrus




98



Mercury Sable




80



Nissan Sentra




134



Honda Accord




102



Monte Carlo




85



Eclipse




136



Toyota Camry




102



Ford Taurus




88



Chevy Metro




138



Grand Am




105



Dodge Intrepid




92



Ford Escort




141



Mystique




108











Civic Coupe




143



Diamante




109











Protoge




144



Millenia




114











Corolla




147



Ford Contour




118











Dodge Neon




167



Dodge Stratus




122











Accent




181



Breeze




128











Elantra




190



Cavalier




134











Kia Sephia




221



Mazda




135











Mirage




246



Sunfire




140











Esteem




247



Nissan Altima




144


















Galant




164



















Sonata




169






































Insurance injury loss results are stated in relative terms. 100 represents average result for all cars.


Lower numbers are better. For example, a rating of 122 means 22% worse than average.








Write a report to your boss, including:



  • appropriate comparative plots and summary statistics;

  • descriptions of the injury ratings for each group of cars;

  • a comparison of injury ratings for the three sizes of cars;

  • your recommendation to your boss about your company’s insurance policies.


Answered 9 days AfterApr 29, 2022

Answer To: You work for an automobile insurance company. Your boss has assigned you the task of reviewing...

Franciosalgeo answered on May 09 2022
86 Votes
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Abstract
Auto insurance will cover damage to the vehicle and property, as well as injuries to those involved, in the event of a co
llision. For insurance companies to take a decision on insurance premium amount, insurance injury losses for different types of cars should be clearly analysed. I have analysed HLDI data using various statistical techniques such as 5-point summary and found that larger size cars should pay less premium followed by mid size cars and small size cars.
Introduction
In the event of a collision, auto insurance will cover damage to the vehicle and property as well as injuries to those involved. The Highway Loss Data Institute (HLDI) keeps track of insurance liabilities based on vehicle type. One major factor associated with automobile injury losses are the types of cars. Depending on the types of cars, the safety features and build quality might vary affecting the passenger’s safety. The data on automobile injury losses for 2000 - 2001 collected by HLDI reports types of car and insurance injury loss results in relatively terms with a result/ rating 100 being the average. For example, rating of 144 means 44% worse than average. These ratings, when combined with the size of the car, will have a significant impact on the rates we charge for car insurance. A statistical analysis of the HLDI data will give more insight in to the relationships between types of cars and the ratings.
Data Analysis
The HLDI data...
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