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 ->  Probability-and-statistics -> 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=      Log On


   

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) About Me  (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

Through substitution we can say that



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

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





and furthermore





Now we can compute the SSE





Finally,





Answer: 14,620.30
Delete the comma if needed