Question

sales by strategy (millions of dollars)
strategy 1 strategy 2 strategy 3 strategy 4
3 16 8 4
3 2 9 4
15 7 13 13
2 2 6 7
12 7 7 5
12 3 6 8
3 8 8 7
3 5 6 6
5 12 12 13
3 5 6 5
9 3 8 7
copy data
sst ≈ 22.3636
sse ≈ 573.6364
step 4 of 4: find the mean square for error, mse. round your answer to four decimal places.
answer 2 points

Explanation:

Step1: Recall MSE formula

The formula for the mean - square error (MSE) is $MSE=\frac{SSE}{n - k}$, where $SSE$ is the sum - of - squares due to error and $n$ is the total number of observations and $k$ is the number of groups. Here, we assume the number of groups $k = 4$ (the 4 strategies) and the number of observations $n=60$ (15 rows and 4 columns).

Step2: Calculate MSE

We are given that $SSE\approx573.6364$. Substituting into the formula $MSE=\frac{SSE}{n - k}=\frac{573.6364}{60 - 4}=\frac{573.6364}{56}$.
$MSE=\frac{573.6364}{56}\approx10.2435$

Answer:

$10.2435$