The table below lists maintenance cost vs. the age of cars for asample of seven cars. The goal was determine if there was acorrelation between the age of a car and the cost to maintain it.The least squares regression equation describing the maintenancecosts (Y?) vs. the age of the car (X) was determined to be
Y' = ?4.75 + 2.8929X
| Age of Car (yrs) | Maintenance Costs ($hundreds) |
| 2 | 3 |
| 3 | 5 |
| 4 | 6 |
| 5 | 7 |
| 6 | 10 |
| 7 | 15 |
| 8 | 22 |
|
What is the standard error of estimate?
Multiple Choice
