Question: 16.38 Using the average baseball salary data for Problem 16.18 on page 602 and Problem 16.30 on page 612 (stored in MLB Salaries ), a.

16.38 Using the average baseball salary data for Problem 16.18 on page 602 and Problem 16.30 on page 612 (stored in MLB Salaries ),

a. perform a residual analysis for each model.

b. compute the standard error of the estimate (SYX) for each model.

c. compute the MAD for each model.

d. On the basis of

(a) through

(c) and the principle of parsimony, which forecasting model would you select? Discuss.

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