Calculate the standard error of the residual using the results from question 41.

Question 41

Use the data and results of questions 30 and 31 to calculate SSE, SSR, SST, and the coefficient of determination.

Question 30

Suppose a labor economist at the Department of Labor estimates the following relationship between years of experience and earnings of accountants.

Question 31

Now suppose the actual earnings of the 5 accountants in question 30 are as follows. Calculate the error from the regression.

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Earnings = 22,000+ 3,200(years of experience) Estimate the earnings for the following 5 accountants: Accountant Bob Mary Sue Ted Anne Years of experience 10.2 6.5 3.4 5.3 12.7