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Parametrics Question

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.

Solution Summary

The solution illustrates the criteria for selection of a power model and a linear model.

$2.19