Use the size and price data for custom homes from Exercise 14.18. In Exercise a. Compute the
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In Exercise
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a. Compute the standard error of the estimate and interpret your answer.
b. Interpret your result from part (a) if the assumptions for regression inferences hold.
c. Obtain a residual plot and a normal probability plot of the residuals.
d. Decide whether you can reasonably consider Assumptions 1€“3 for regression inferences to be met by the variables under consideration.(The answer here is subjective, especially in view of the extremely small sample sizes.)
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