A realtor studied the relation between x = yearly income (in thousands of dollars per year) of home purchasers and y = sale price of the house (in thousands of dollars). The realtor gathered data from mortgage applications for 24 sales in the realtors basic sales area in one season. a. A scatterplot with a LOWESS smoother, drawn using Minitab,
A realtor studied the relation between x = yearly income (in thousands of dollars per year) of home purchasers and y = sale price of the house (in thousands of dollars). The realtor gathered data from mortgage applications for 24 sales in the realtor€™s basic sales area in one season.
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a. A scatterplot with a LOWESS smoother, drawn using Minitab, follows. Does the relation appear to be basically linear?
b. Are there any high leverage points? If so, which ones seem to have high influence?
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a. The LOWESS smooth is basically a straight line with a slight bend at …View the full answer
Related Book For 
An Introduction To Statistical Methods And Data Analysis
7th Edition
Authors: R. Lyman Ott, Micheal T. Longnecker
ISBN: 9781305465527