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

n=16 ECY - Y 2 = 18000 Y = 314 If we used this equation, we could typically expect to be off by :35.86%%. If we used this equation, we could typically expect to be off by +34.64K. If we used this equation, we could typically expect to be off by +34.64%. If we used this equation, we could typically expect to be off by +$35.86K