1) Given a one independent variable linear equation that states cost in $K, and given the following information, calculate the coefficient of variation and determine its meaning. |

[removed]If we used this equation, we could typically expect to be off by ± 10.77%. |

[removed]If we used this equation, we could typically expect to be off by ± 29.31%. |

[removed]If we used this equation, we could typically expect to be off by ± 9.32%. |

[removed]If we used this equation, we could typically expect to be off by ± 33.85%. |

2) You are estimating the cost ($K) of optical sensors based on the resolution of the sensor (i.e. how small of an object it can detect). Using the preliminary calculations from a data set of 8 sensors, determine the equation of the line. (Round your intermediate calculations to 3 decimal places) |

[removed]Cost = – 53.067 + 115.374 (Resolution) |

[removed]Cost = 513.376 + (- 53.067) (Resolution) |

[removed]Cost = 115.374 + (-53.067) (Resolution) |

[removed]Cost = – 53.067 + 513.376 (Resolution) |

3) You are trying to determine the statistical significance of an equation. Given the following information, test the slope of the equation at the 95% level of confidence. Select the correct answer out of each pair of choices. Cost = – 76.25 + 114.82 (Range) n = 9 S |

[removed]The tp is 1.895 |

[removed]The tp is 2.365 |

[removed]The tc is 4.315 |

[removed]The tc is 6.498 |

[removed]We would reject the null hypothesis |

[removed]We would fail to reject the null hypothesis |

[removed]We would consider using the equation |

[removed]We would not use the equation |

4) You have calculated the following power model and associated unit space values: You would select the: |

[removed]Power equation because it has a higher standard error than the linear model. |

[removed]Power equation because it has a lower standard error than the linear model. |

[removed]Linear equation because it has a higher standard error than the power model. |

[removed]Linear equation because it has a lower standard error than the power model. |

5) A coworker is considering the use of a log linear (power) model using weight to estimate the cost of a utility vehicle. They have performed the following calculations in log space using natural logarithms. Select the corresponding unit space form of this power model equation. Log Space b |

[removed]Cost = 1.268074 + 0.062153 (Weight) |

[removed]Cost = 0.062153 + 1.268074 (Weight) |

[removed]Cost = 1.064125 (Weight) |

[removed]Cost = 0.062153 (Weight) |

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