It is often suggested that the Canadian stock market is very closely tied to the price of oil. Now you will get a chance to test whether this is true. A data set containing weekly values of the Toronto Stock Exchange Composite Index and the Canadian spot price of oil, in dollars per barrel, is available.
Answer to relevant QuestionsFor the Salaries data set, create scatter diagrams showing the relationship between each possible explanatory variable and salaries. Are there any obvious problems? Are there some variables that seem particularly strong as ...Conduct a test of the significance of the overall model for the salaries model that includes years of postsecondary education and years of experience as explanatory variables. Test the significance of the individual ...Use the salaries model based on years of postsecondary education and years of experience to make a 95% pre diction interval estimate of the salary of an individual who has five years of postsecondary education and 10 years ...A sales manager is trying to build a sales forecasting model based on number of sales contacts and region. Is region a significant explanatory variable in this model? Create histograms of the residuals for the models discussed in Exercises 6, 7, and 8 above. Do these histograms appear to be at least approximately normal?
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