Here are the residuals for a regression of Sales on Number of Sales People Working for the

Question:

Here are the residuals for a regression of Sales on Number of Sales People Working for the bookstore of Exercise 1:

a) What are the units of the residuals?
b) Which residual contributes the most to the sum that was minimized according to the Least Squares Criterion to find this regression?
c) Which residual contributes least to that sum?

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a The units of the residuals are the same as the units of the response variable Sales ...View the full answer

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Related Book For book-img-for-question

Business Statistics

ISBN: 9780321925831

3rd Edition

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

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Question Posted: May 14, 2015 04:07 AM

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Here are the residuals for a regression of Sales on Number of Sales People Working for the

Question:

Sales People Working Residual 0.07 0.16 10 12 15 16 20 -2.32 0.77 2.77 0.94 0.20 0.72 0.37

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a The units of the residuals are the same as the units of the response variable Sales ...View the full answer

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