Question 1: Given a one independent variable linear equation that states cost in $K, and given the following information, calculate the standard error and determine its meaning.

n = 10 ∑ (Y - Y^{^})2 = 10591 Y^- = 314.375

If we used this equation, we could typically expect to be off by ± $36.39K.

If we used this equation, we could typically expect to be off by ± $42.01K.

If we used this equation, we could typically expect to be off by ± 42.01%.

If we used this equation, we could typically expect to be off by ± 36.39%.

Question 2: You are estimating the cost ($K) of optical sensors based on the resolution of the sensor (i.e. how small of an object it can detect). Using the preliminary calculations from a data set of 8 sensors, determine the equation of the line.

∑Y = 2575 ∑X = 80 ∑XY = 6857.5 ∑X² = 161

Cost = 29.566 + 26.218 (Resolution)

Cost = 513.376 + (- 53.067) (Resolution)

Cost = - 53.067 + 513.376 (Resolution)

Cost = 26.218 + 29.566 (Resolution)

Question 3: You are estimating the install hours for an electronics upgrade based on the number of components affected. The upgrade for which you are estimating affects 15 components. Given the following equation, select the correct response from each pair.

Question 4: A coworker is considering the use of a log linear (power) model using weight to estimate the cost of a manufacturing effort. They have performed the following calculations in log space using natural logarithms. Select the corresponding unit space form of this power model equation.

Question 5: You are trying to determine the statistical significance of an equation. Given the following information, test the slope of the equation at the 90% level of confidence. Select the correct answer out of each pair of choices.

Cost = 153.58 + 1.58 (Power)    n=12   S_b1 = 17.669

Question 6: You have calculated the following power model and associated unit space values:

Hours = 27.95(Complecity)1.05    n = 9  ∑(Y - Y^)2 = 3298

As an alternative, you could use the linear equation:

Cost = 329.51 + 76.25 (complexity)  SE = 28.47

Question 7: You are estimating the cost of optical sensors based on the radius of the sensors. You decide to calculate the coefficient of determination (R2) as part of determining the goodness of fit of an equation. Using the preliminary calculations below, calculate the R2 and determine its meaning.

∑(Yi - Y^-)2 = 157286 ∑(Y^ - Y^-)2 = 148163 ∑(Y - Y^)2 = 9123