~~3) Given a one independent variable linear equation that states cost in $K, and given the following information, calculate the standard error and determine its meaning.
[Image Description: n =12, Summation of (Y– Yhat)2 = 10591, Ybar=314.375]
L7_e2q5.jpg
If we used this equation, we could typically expect to be off by ± 32.54%.
If we used this equation, we could typically expect to be off by ± $36.39K.
If we used this equation, we could typically expect to be off by ± 36.39%.
If we used this equation, we could typically expect to be off by ± $32.54K.