SOLUTION: Using the data below, determine the value of the error estimate S^2
. Give your answer to two decimal places.
∑xi=422,∑yi=5313,∑y2i=2512988
∑xiyi=191328,n=12,β^1=
Algebra.Com
Question 1193517: Using the data below, determine the value of the error estimate S^2
. Give your answer to two decimal places.
∑xi=422,∑yi=5313,∑y2i=2512988
∑xiyi=191328,n=12,β^1=3.221
Answer by math_tutor2020(3835) (Show Source): You can put this solution on YOUR website!
Refer to this page to refresh your memory on the formulas needed
https://www.public.asu.edu/~gwaissi/ASM-e-book/module208.html
Specifically check out the section labeled "4. Calculate the sums of squares"
Also, check out the bottom of page 2 on this PDF
https://www2.isye.gatech.edu/~hsharp/math3070/section3_4.pdf
I'm talking about the formula
(\sum y)}{n})
Through substitution we can say that
(\sum y)}{n})
^2}{n})
As a final reference page, check out the top of page 2 of this PDF
https://users.stat.ufl.edu/~winner/statnotescomp/regression.pdf
where it reads  estimate of the error variance } \sigma^2 \text{ is } s^2 = \text{MSE} = \frac{\text{SSE}}{n-2})
Now onto the problem at hand.
--------------------------------------------------------------------------------
I will drop the subscript 'i' to simplify things a bit
So instead of saying something like
I'll simply refer to it as
Given info:
Use some of the given info to say
^2}{n})
^2}{12})
and furthermore
(\sum y)}{n}\right))
(5313)}{12}\right))
Now we can compute the SSE
Finally,
Answer: 14,620.30
Delete the comma if needed
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