Chapter 27, Problem 10E

a)

To determine

To explain s = 46.16.

Explanation of Solution

Given:

  

s = 46.16 is the standard deviation of the residuals.

This means that the actual values vary on average by 46.16 about the predicted values.

b)

To determine

To find the value of standard error.

Answer to Problem 10E

  $S{E}_b=0.2574peryear$

Explanation of Solution

Given:

  

The value of standard error of the slope of the regression line is,

  $S{E}_b=0.2574peryear$

c)

To determine

To explain the meaning of standard error.

Explanation of Solution

Given:

  

The value of standard error of the slope of the regression line is,

  $S{E}_b=0.2574peryear$

Therefore, the slope of the regression line of different samples is expected to vary on average by 0.2574 per year.