# Question

Refer to exercise 7, where an estimated regression equation relating years of experience and annual sales was developed.

a. Compute the residuals and construct a residual plot for this problem.

b. Do the assumptions about the error terms seem reasonable in light of the residual plot?

a. Compute the residuals and construct a residual plot for this problem.

b. Do the assumptions about the error terms seem reasonable in light of the residual plot?

## Answer to relevant Questions

In 2011, home prices and mortgage rates dropped so low that in a number of cities the monthly cost of owning a home was less than renting. The following data show the average asking rent for 10 markets and the monthly ...The regional transit authority for a major metropolitan area wants to determine whether there is any relationship between the age of a bus and the annual maintenance cost. A sample of 10 buses resulted in the following ...1. Develop numerical summaries of the data. 2. Use regression analysis to develop an estimated regression equation that could be used to predict the value score given the price of the car.3. Use regression analysis to ...In a regression analysis involving 30 observations, the following estimated regression equation was obtained.y = 17.6 + 3.8x1 – 2.3x2 + 7.6x3 + 2.7x4a. Interpret b1, b2, b3, and b4 in this estimated regression equation.b. ...Refer to the data presented in exercise 2. The estimated regression equation for these data isy = – 218.37 + 2.01x1 + 4.74x2Here SST = 15,182.9, SSR = 14,052.2, sb1 = .2471, and sb2 = .9484.a. Test for a significant ...Post your question

0