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Math Help - Repair cost stats

  1. #1
    Junior Member
    Joined
    May 2009
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    71

    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!
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  2. #2
    Junior Member RHandford's Avatar
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  3. #3
    Junior Member
    Joined
    May 2009
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    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?
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  4. #4
    Junior Member
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    May 2009
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    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.
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