Given a one independent variable linear equation that states cost in $K, and given the following information, calculate the coefficient of variation and determine its meaning.
[Image Description: n =12, Summation of (Y-Yhat)2 = 15000, Ybar=314.375]
1) If we used this equation, we could typically expect to be off by ± $11.75K.
2) If we used this equation, we could typically expect to be off by ± $12.32K.
3) If we used this equation, we could typically expect to be off by ± 11.75%.
4) If we used this equation, we could typically expect to be off by ± 12.32%.