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Review the Following Report of the Results of a Simple

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Review the following report of the results of a simple regression program for cost estimation. Review the following report of the results of a simple regression program for cost estimation. r<sup>2</sup> = 0.72 Required: a.What is the cost estimation equation according to the report? b.What is the goodness of fit? What does it tell about the estimating equation? r2 = 0.72
Required:
a.What is the cost estimation equation according to the report?
b.What is the goodness of fit? What does it tell about the estimating equation?

Correct Answer:

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a.y = $24.88 + $444.70x
b.Goodness of fi...

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