A manager wishes to determine the relationship between the number of miles (in hundreds of miles)the manager?s sales representatives travel per month and the amount of sales (in thousands of dollars)per month.
Find the standard error of estimate, $\mathrm { s } _ { \mathrm { e } }$ given that ? = 3.53x + 37.92. $$\begin{array} { l | c | c | c | c | c | c | c | c | c | }
\text { Miles traveled, } \mathrm { x } & 2 & 3 & 10 & 7 & 8 & 15 & 3 & 1 & 11 \
\hline \text { Sales, y } & 31 & 33 & 78 & 62 & 65 & 61 & 48 & 55 & 120
\end{array}$$
A)22.062
B)15.951
C)10.569
D)5.122

Question

A manager wishes to determine the relationship between the number of miles (in hundreds of miles)the manager?s sales representatives travel per month and the amount of sales (in thousands of dollars)per month.
Find the standard error of estimate, $\mathrm { s } _ { \mathrm { e } }$ given that ? = 3.53x + 37.92. $$\begin{array} { l | c | c | c | c | c | c | c | c | c | } 
\text { Miles traveled, } \mathrm { x } & 2 & 3 & 10 & 7 & 8 & 15 & 3 & 1 & 11 \
\hline \text { Sales, y } & 31 & 33 & 78 & 62 & 65 & 61 & 48 & 55 & 120
\end{array}$$
A)22.062
B)15.951
C)10.569
D)5.122

Quizplus · Accepted Answer

The standard error of estimate is the square root of the mean square error, which is the sum of the squared residuals divided by the degrees of freedom. The residuals are the differences between the observed values of the dependent variable and the predicted values of the dependent variable. The degrees of freedom are the number of observations minus the number of independent variables. In this case, the number of observations is 10 and the number of independent variables is 1, so the degrees of freedom are 9. The mean square error is 22.062, so the standard error of estimate is the square root of 22.062, which is 4.696.

A Manager Wishes to Determine the Relationship Between the Number se\mathrm { s } _ { \mathrm { e } }se​

A Manager Wishes to Determine the Relationship Between the Number $\mathrm { s } _ { \mathrm { e } }$