Question

Produce residual plots for the regression of problem 10–11. Is there any apparent model inadequacy?
In problem An article in the Journal of Monetary Economics assesses the relationship between percentage growth in wealth over a decade and a half of savings for baby boomers of age 40 to 55 with these people's income quartiles. The article presents a table showing five income quartiles, and for each quartile there is a reported percentage growth in wealth. The data are as follows.


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  • CreatedJune 03, 2015
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