Determine the goodness of fit for our power equation

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You have been asked to determine the goodness of fit for our power equation. The sum of Squared Errors (SSE) is 0.02 and there are 10 data points, what is the Standard Error of the Estimate (SEE) and what does it mean?

a. The SEE is 0.041 and we can expect to be off by $0.041

b. The SEE is 0.047 and we can expect to be off by $0.047

c. The SEE is 0.050 and we can expect to be off by $0.05

d. The SEE is 0.045 and we can expect to be off by $0.045

Reference no: EM132466940

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