Consider the data. xi 1 2 3 4 5 yi 3 8 5 10 14 (a) Compute the mean square error using equation  s2 = MSE= SSE n − 2 .  (Round your answer to two decimal places.)   (b) Compute the standard error of the estimate using equation  s =    MSE =    SSE n − 2 .  (Round your answer to three decimal places.)   (c) Compute the estimated standard deviation of  b1  using equation  sb1 =  s   Σ(xi − x)2.  (Round your answer to three decimal places.)

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.