Question

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	183.9
0.453	6.4
0.996	23.5
1.058	32.9
2.100	110.4
2.380	104.6

*(Do not round the intermediate values. Round your answers to 4 decimal places.)
**(Round the intermediate values to 4 decimal places. Round your answer to 3 decimal places.)

ŷ = enter a number rounded to 4 decimal places  * + enter a number rounded to 4 decimal places * x
r² = enter a number rounded to 3 decimal places  **
s_e = enter a number rounded to 3 decimal places  **

Answer 1

We will be using excel to solve the given problem:

Here is the output after running the model:

The regression line is:

R Square

0.908

Standard Error

20.851

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