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    Standard error of estimate

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    A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:

    See attached file for full data.

    Referring to the table what is the standard error of the estimate, Syx, for data?

    A. 0.784
    B. 0.885
    C. 12.650
    D. 16.299

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    Solution Summary

    The solution gives the standard error of the estimate of the candy bar data.