Question: Chapter 4 Q5 Can you explain how to get these answers? The residuals for a regression of Sales on Number of Sales People Working for
Chapter 4 Q5 Can you explain how to get these answers?

The residuals for a regression of Sales on Number of Sales People Working for a small bookstore are shown in the accompanying table. Complete parts a through c below. Click the icon to view the data table. i Data Table X a) What are the units of the residuals? thousands of dollars O number of sales people working Sales People Sales dollars Working (in $1000) Residual 11 0.75 O The residuals do not have units. 12 - 0.19 14 - 1.10 b) Which residual contributes the most to the sum that was minimized according to the Least Squares Criterion to find this regression? 8 15 - 1.07 10 18 - 0.02 1.98 (Type an integer or a decimal.) 10 20 1.98 13 20 - 0.93 c) Which residual contributes least to the sum that was minimized according to the Least Squares Criterion to find this regression? 15 24 1.13 17 24 - 0.81 - 0.02 (Type an integer or a decimal.) 19 27 0.25 Print Done
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
