Question: The regression line equation is given as y′ = 44.076 - 1.141x. The following values are also given. ∑x = 88,∑y = 120,∑x2 = 1782,∑y2 = 3356,∑xy = 1846 and n = 5. Compute the standard error of the estimate.
A ) 5.598 B ) 8.598 C ) 6.598 D ) 7.598
Steps to derive
1 The equation of the regression line y′ = a + bx is y′ = 44.076 - 1.141x
2 The standard error of the estimate Sest is, Sest = Σy2-aΣy-bΣxyn-2
3Sest = 7.598 [Substitute the values and simplify.]
4 Therefore, the standard error of the estimate is 7.598.
