Question: The South Carolina Insurance Commission wants to know whether states that have no-fault insurance for automobiles have lower insurance rates. The commission takes a survey of 20 states and asks whether they have a no=fault insurance law (coded 1 if they do) and determines the cost (in dollars) of an automobile insurance policy for a 30 year old male driver who drives 15,000 miles per year and owns a 20007 Ford Focus. It gets the following results:

Y= $265.00-74.33X sb = 29.4 Sy/x =14.9 r2= .34

Present a hypothesis and a null hypothesis, and evaluate them. Present a conclusion in plain English. Do not forget to interpret the regression.