Suppose You Fit a Least Squares Line to 22 Data $s ^ { 2 }$

question 39

Essay

Suppose you fit a least squares line to 22 data points and the calculated value of SSE is
.678. a. Find $s ^ { 2 }$ , the estimator of $\sigma ^ { 2 }$ .
b. Find $s$ , the estimator of $\sigma$ .
c. What is the largest deviation you might expect between any one of the 22 points and the least squares line?

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Definitions:

Overapplied Overhead

Occurs when the amount of overhead allocated to products exceeds the actual overhead incurred.

Cost of Goods Sold

The direct costs attributable to the production of the products sold by a company.

Finished Goods Inventory

The total value of goods that have completed the production process but have not yet been sold to customers.

Overapplied Overhead

A situation where the amount of overhead allocated to products or services exceeds the actual overhead incurred.