04 Jun Question Applied Problem 2 In his analysis of California’s p
Question
Applied Problem 2
In his analysis of California’s proposition 103 (Illustration below). Benjmain Zycher notes that one of the most important provisions of this proposition is eliminating the practice of basing premiums (in part) on the geographic location of drivers. Prohibiting the use of geographic location to assess the risk of a driver creates substantial implicit subsidy from low-loss counties to high-loss countries such as Los Angeles, Orange and San Francisco counties. Zycher hypothesizes that the percent of voters favoring proposition 103 in a given county (V) is inversely related to the (average) percentage change in auto premiums (P) that the proposition confers upon the drivers of that county.
The data in the table below were presented by Zycher to support his contention that V and P are inversely related:
County percent for proposition 103 (V) Change in average premium (P)
Los Angeles 62.8 -21.4
Orange 51.7 -8.2
San Francisco 65.2 -0.9
Alameda 58.9 +8.0
Marin 53.5 +9.1
Santa Clara 51.0 +11.8
San Mateo 52.8 +12.6
Santa cruz 54.2 +13.0
Ventura 44.8 +1.4
San Diego 44.1 +10.7
Monterey 41.6 +15.3
Sacramento 39.3 +16.0
Tulare 28.7 +23.3
Sutter 32.3 +37.1
Lassen 29.9 +46.5
Siskiyou 29.9 +49.8
Modoc 23.2 +57.6
This illustration is for reference
The applied problem has been input into the excel spread sheet on Tab 1
Technical problem 6 & 9
Require the completion of the tables in the second and third tab of the excel document.
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