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Consider the following data where X represents advertisement money spent and Y represents sales revenue generated. x ('000$) : 45, 35, 25, 55, 65, 45,
Consider the following data where X represents advertisement money spent and Y represents sales revenue generated.
x ('000$) : 45, 35, 25, 55, 65, 45, 25, 65
Y ('000$): 103, 83, 63 ,123 ,153, 93, 73, 133
The regression equation is 25734 + 1,987X, Calculate the standard error of estimate for the data set.
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