TABLE 14-6
One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y).To provide its customers with information on that matter,a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit (X 1 )and the amount of insulation in inches (X 2 ).Given below is EXCEL output of the regression model. Also SSR (X 1 ∣ X 2 )= 8343.3572 and SSR (X 2 ∣ X 1 )= 4199.2672
-True or False: In a particular model,the sum of the squared residuals was 847.If the model had 5 independent variables,and the data set contained 40 points,the value of the standard error of the estimate is 24.911.

Question

TABLE 14-6
One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y).To provide its customers with information on that matter,a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit (X 1 )and the amount of insulation in inches (X 2 ).Given below is EXCEL output of the regression model.  Also SSR (X 1 ∣ X 2 )= 8343.3572 and SSR (X 2 ∣ X 1 )= 4199.2672
-True or False: In a particular model,the sum of the squared residuals was 847.If the model had 5 independent variables,and the data set contained 40 points,the value of the standard error of the estimate is 24.911.

Quizplus · Accepted Answer

The standard error of the estimate, also known as the root mean squared error (RMSE), is not directly provided in the given information. Therefore, it cannot be determined whether or not the statement is true or false.

TABLE 14-6 One of the Most Common Questions of Prospective House Buyers