# Repair cost stats

• Nov 11th 2010, 11:51 AM
orendacl
Repair cost stats
Hello, we are give na table of data and I want to caculate the standard error:
How do you do that?

Note:
Here is the data:
Age of a car| repair cost in 1000's of \$
_________________________________
X | Y
4 | 1
6 | 2
7 | 5
8 | 4
9 | 4
10 | 5

Note:
I have comouted the coree coeff, and have an equation for that. Just need to know how do I obtain the standard error from my table - what is the formula?
Thanks!
• Nov 11th 2010, 12:22 PM
RHandford
• Nov 11th 2010, 01:50 PM
orendacl
Yes, but isn't the standard error we are after the standard error of b in our equation?
Example:
I computed a linear regression equation with a b = .69
So, the STD error of b a.k.a s.e.b is....?
That is what I am trying to find.
Any ideas?
• Nov 11th 2010, 03:44 PM
orendacl
Never mind (and thanks for help); I found an article that details how to perform this type of calculation - it's a mutli step process. I am running through a final check that now and will post my answer.