y23469x51020 r20976 The standard error value for the coeffic

y=23.469x+51020 r^2=0.976

The standard error value for the coefficient m1 2.123445

y=23.469x+51020 r^2=0.976

The standard error value for the coefficient m1 2.123445

There are five data points in the analaysis.
In regard to the variable cost, maintenance cost per direct labor hour, I am 95% confident the cost will vary between:
$20.28 and $26.65
$18.16 and $28.78
$19.22 and $27.72
$17.10 and $29.84
$21.35 and $25.59

Solution

slope = 23.469.....standard error = 2.123445...

at 95% confidence and d.f = 5 -1 = 4......t-score =  2.776445......

confidence interval = [ 23.469 - (  2.776445 * 2.123445 ) , 23.469 + (  2.776445 * 2.123445 ) ]
= [ 17.10 , 29.84 ].......

y=23.469x+51020 r^2=0.976 The standard error value for the coefficient m1 2.123445 y=23.469x+51020 r^2=0.976 The standard error value for the coefficient m1 2.1

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