Here are the residuals for a regression of Sales on Number of Sales People Working for the bookstore of exercise 5:
Number of Sales
People Working Residual
2 ………………………. 0.07
3 ………………………. 0.16
7 ………………………. -1.49
9 ………………………. -2.32
10 ………………………. 0.77
10 ………………………. 2.77
12 ………………………. 0.94
15 ………………………. 0.20
16 ………………………. -0.72
20 ………………………. -0.37
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?