A Data Set with 7 Observed Pairs of Data (X $$\sum X$$

question 12

Multiple Choice

A data set with 7 observed pairs of data (x, y) yielded the following statistics. $$\sum X$$ =21.57 $$\sum X ^ { 2 }$$ =68.31 $$\sum Y$$ =188.9 $$\sum Y ^ { 2 }$$ =5140.23 $$\sum X Y$$ =590.83
SSE = unexplained variation = 1.06
-You wish to perform a simple linear regression analysis using x as the independent variable and y as the dependent variable.What is the standard error?

• A)212
• B)189
• C)106
• D)460
• E)590

---

Definitions:

Economic Profit

The difference between a firm's total revenue and its opportunity costs, including both explicit and implicit costs.

Price Regulation

Government or regulatory authority control over the pricing of goods and services, often to prevent excessively high prices or monopolies.

Regulatory Agency

A governmental body responsible for exercising autonomous authority over some area of human activity in a regulatory or supervisory capacity.

Government

The governing body of a nation, state, or community, responsible for creating and enforcing laws and policies.