The linear relationship between the cost of fire damage in major residential fires and the distance from the house to the nearest fire station is an important factor for the insurance company. By collecting data from 15 recent fires in a large suburb of a major city, the insurance company can analyze the relationship between these two variables.
By understanding this relationship, the insurance company can better estimate the cost of fire damage for future fires, as well as adjust premiums accordingly. This data is also useful in developing new fire prevention and safety protocols. By understanding the linear relationship between the cost of fire damage and the distance to the nearest fire station, the insurance company can make informed decisions to ensure the safety of their customers.
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