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  3. the table below lists maintenance cost vs. the age

The table below lists maintenance cost vs. the age of cars for a sample of seven...

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Question

Basic Math

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)
23
35
46
57
610
715
822


What is the standard error of estimate?

Multiple Choice

  • 6.621

  • 2.573

  • 5.754

  • 3.864

Answer & Explanation Solved by verified expert
4.1 Ratings (668 Votes)
For this problem we will first use the formula for correlationand then we will use R for getting the OLS estimator the standarderror for estimates and standard error for    See Answer
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