Question

How to find mean squared error from given information?

1. The data in the table were collected from n = 10 home sales. Property appraisers used the data to estimate the population regression model of

E(Sales Price) = b₀ + b₁(Home Size),

where

Sales Price (in thousands of dollars)

Home Size (in hundreds of square feet)

Sales Price	Home Size
160	23
132.7	11
157.7	20
145.5	17
147	15
155.3	21
164.5	24
142.6	13
154.5	19
157.5	25

The sample regression model is

Sales Price = 116.00813 + 1.90010(Home Size)

The question is

What is the 95% confidence interval for the expected sales price if home size is 18.5?

I know the formula for the CI. I need to know how to find the mean squared error.

The correct answer is 12.45612. How to you find this?

Thank you

Answer 1

please revert for any clarification required