Final answer:
The standard error of the estimate (se) is approximately 9.50, and the coefficient of determination (R^2) is 0.8168, meaning that 81.68% of the variance in the dependent variable is explained by the regression model.
Step-by-step explanation:
The student has asked to calculate the standard error of the estimate (se) and the coefficient of determination (R) for a simple linear regression based on 30 observations with given SSE (Sum of Squares due to Error) and SST (Total Sum of Squares).
To calculate the standard error of the estimate:
se = √(SSE / (n-2))
se = √(2540 / (30-2))
se = √(2540 / 28)
se ≈ 9.50 (rounded to two decimal places).
To calculate the coefficient of determination (R²):
R² = 1 - (SSE / SST)
R² = 1 - (2540 / 13870)
R² = 1 - 0.1832
R² = 0.8168 (rounded to four decimal places).
The coefficient of determination, R², indicates the proportion of the variance in the dependent variable that is predictable from the independent variable in the regression model. In this case, 81.68% of the variance can be explained by the model.