Suppose that you generate a scatter-plot of residuals versus fitted values of the dependent variable for an

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Suppose that you generate a scatter-plot of residuals versus fitted values of the dependent variable for an estimated regression equation. Furthermore, you find the correlation between the residuals and fitted values to be 0.829. Does this provide a good indication that the estimated regression equation is satisfactory? Explain why or why not.
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Business Analytics Data Analysis and Decision Making

ISBN: 978-1305947542

6th edition

Authors: S. Christian Albright, Wayne L. Winston

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