You have calculated the following power model and associated unit space values:
ID: 3155525 • Letter: Y
Question
You have calculated the following power model and associated unit space values: [Image Description: n =7, Summation of (Y– Yhat)2 = 1285
Cost = 1.67(Weight)^0.895
As an alternative, you could use the linear equation Cost = 122.31 + 126.80(Weight) SE = 24.52
You would select the following:
a. Linear equation because it has a higher standard error than the power model.
b. Linear equation because it has a lower standard error than the power model.
c. Power equation because it has a lower standard error than the power model.
d. Power equation because it has a higher standard error than the power model.
Explanation / Answer
As an alternative, you could use the linear equation Cost = 122.31 + 126.80(Weight) SE = 24.52
b. Linear equation because it has a lower standard error than the power model.
linear equations is always the best options because it is the best equation with less error