Review the following report of the results of a simple regression program for cost estimation.
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:
Type II Error
The error that occurs when a false null hypothesis is not rejected, also known as a "false negative."
Type II Error
The error that occurs when a false null hypothesis is not rejected, also known as a "false negative".
Steroids
Steroids are organic compounds with four rings arranged in a specific molecular configuration, used both in medical treatment and illegally to enhance athletic performance.
Type II Error
The error that occurs when a statistical test fails to reject a false null hypothesis, mistakenly indicating that there is no effect or difference when there is.
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