Computer output in the scenario described in problem #8 reports that $s = 2.3$ . Which is the correct
Interpretation of this value?
A) The slope of the regression line is $2.30 per light.
B) The slope of the regression line is 2.3 lights per dollar.
C) The initial cost, even with no lights is $2.30
D) The average prediction error of the regression line is $2.30.
E) The correlation is 2.3.

Question

Quizplus · Accepted Answer

The value $s = 2.3$ typically represents the standard deviation of the residuals, or the average prediction error of the regression line.

Computer Output in the Scenario Described in Problem #8 Reports s=2.3s = 2.3s=2.3

Computer Output in the Scenario Described in Problem #8 Reports $s = 2.3$