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You are trying to determine the statistical significance of an equation Given the following information test the slope of the equation at the 90% level of confidence Select the correct answer out

You are trying to determine the statistical significance of an equation. Given the following information, test the slope of the equation at the 90% level of confidence. Select the correct answer out of each pair of choices.
Cost = - 76.25 + 114.82 (Range) n=10 Sb1 = 17.669
 
 
 

The tp is 1.860

The tp is 2.365

 

The tc is 4.315

The tc is 6.498

 

We would reject the null hypothesis

 

 

We would fail to reject the null hypothesis

 

 

We would consider using the equation

We would not use the equation

 

2) Given a one independent variable linear equation that states cost in $K, and given the following information, calculate the standard error and determine its meaning.
[Image Description: n =10, Summation of (Y– Yhat)2 = 10591, Ybar=314.375]

 
 
 
If we used this equation, we could typically expect to be off by ± $42.01K.
If we used this equation, we could typically expect to be off by ± $36.39K.
If we used this equation, we could typically expect to be off by ± 42.01%.
If we used this equation, we could typically expect to be off by ± 36.39%.

 

3) You have calculated the following power model and associated unit space values:
[Image Description: n =9, Summation of (Y– Yhat)2 = 3298]

 
 
 
Power equation because it has a lower standard error than the linear model.
Linear equation because it has a lower standard error than the power model.
Power equation because it has a higher standard error than the linear model.
Linear equation because it has a higher standard error than the power model.

Aug 01 2020 View more View Less

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