Oil Quality and Price Quality of oil is measured in API gravity degrees--the higher the degrees API, the higher the quality. The table shown below is produced by an expert in the field who believes that there is a positive relationship between quality and price per barrel.

A partial statistical software output follows:
{Oil Quality and Price Narrative} Determine the standard error of estimate and describe what this statistic tells you.

Question

Oil Quality and Price Quality of oil is measured in API gravity degrees--the higher the degrees API, the higher the quality. The table shown below is produced by an expert in the field who believes that there is a positive relationship between quality and price per barrel. 
  
 A partial statistical software output follows: 
     {Oil Quality and Price Narrative} Determine the standard error of estimate and describe what this statistic tells you.

Quizplus · Accepted Answer

The Answer of Oil Quality and Price Quality of oil is measured in API gravity degrees--the higher the degrees API, the higher the quality. The table shown below is produced by an expert in the field who believes that there is a positive relationship between quality and price per barrel. 
  
 A partial statistical software output follows: 
     {Oil Quality and Price Narrative} Determine the standard error of estimate and describe what this statistic tells you.

Oil Quality and Price Quality of Oil Is Measured in API