Question

In: Statistics and Probability

People in the aerospace industry believe the cost of a space project is a function of...

People in the aerospace industry believe the cost of a space project is a function of the mass of the major object being sent into space. Use the following data to develop a regression model to predict the cost of a space project by the mass of the space object. Determine r2 and se.

Weight (tons) Cost ($ millions)

1.897 $ 53.6

3.019 $185.2

0.453 $6.4

0.960 $23.5

1.058 $33.5

2.100 $110.4

2.392 $104.6

ŷ = ________ + __________ x

r2 = _______________

se = ___________________

Solutions

Expert Solution

Regression Equation Calculation

ŷ = -38.2998 + 66.1082x

Coefficient of Determination (r2) Calculation

r2 = SSRegression/SSTotal = 21554.8984/23803.0886

r2 = 0.9056

Standard Error Calculation

se = 21.2047


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