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12. Regression
12. Regression / Residuals / Problem 8
Problem 8

The table shows the average vehicle age (in years) for each of the eight years. A regression model has been fit to the data:
y^=0.0893xβˆ’168.45 \hat{y}=0.0893x-168.45

Using this regression model and the actual data, compute the standard error of estimate 𝑠𝑒𝑠_{𝑒}, which measures the typical distance between observed and predicted values.