1) 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.
n=8 S(Y-?)2 =10591 Y=314.375
If we used this equation, we could typically expect to be off by ± $42.01K.
If we used this equation, we could typically expect to be off by ± 42.01%.
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%.