Thirty employed single individuals were randomly selected to examine the relationship between their age (Age) and their credit card debt (Debt) expressed as a percentage of their annual income. Three polynomial models were applied and the following table summarizes Excel's regression results. What is the estimate of the variance of the random error ε provided by the regression equation with the best fit?

Question

Thirty employed single individuals were randomly selected to examine the relationship between their age (Age) and their credit card debt (Debt) expressed as a percentage of their annual income. Three polynomial models were applied and the following table summarizes Excel's regression results.

What is the estimate of the variance of the random error ε provided by the regression equation with the best fit?

Quizplus · Accepted Answer

The Answer of Thirty employed single individuals were randomly selected to examine the relationship between their age (Age) and their credit card debt (Debt) expressed as a percentage of their annual income. Three polynomial models were applied and the following table summarizes Excel's regression results.  What is the estimate of the variance of the random error ε provided by the regression equation with the best fit?

Thirty Employed Single Individuals Were Randomly Selected to Examine the Relationship