Parametrics Question
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You have calculated the following power model and associated unit space values: You would select the:
Cost=1.72 (horsepower) 0.635 n=6 ?(Y-?) 2 =412
As an alternative you could use the linear equation:
Cost = 395.68 + 1.85 (Horsepower) SE=12.25
A) Linear equation because it has a higher standard error than the power model.
B) Power equation because it has a higher standard error than the linear model.
C) Linear equation because it has a lower standard error than the power model.
D) Power equation because it has a lower standard error than the linear model.
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Solution Summary
The solution illustrates the criteria for selection of a power model and a linear model.
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