Review the following report of the results of a simple regression program for cost estimation.
r2 = 0.72
Required:
a. What is the cost estimation equation according to the report?
b. What is the goodness of fit? What does it tell about the estimating equation?
Definitions:
Strike Price
The strike price is a predetermined price at which the holder of an option can buy (call option) or sell (put option) the underlying asset until the expiration date.
Current Price
The present value or selling price of an asset, security, or commodity available in the marketplace.
Put Option
A financial contract that gives the holder the right, but not the obligation, to sell a specified amount of an underlying asset at a set price within a specified time.
Strike Price
The predetermined price at which the buyer of a call option can purchase the underlying asset, or the buyer of a put option can sell the underlying asset.
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