Question: If extremely influential outlying cases is shown in a data set, discard these cases and refit the regression. Is this statement correct? Explain. If residuals

"If extremely influential outlying cases is shown in a data set, discard these cases and refit the regression." Is this statement correct? Explain.

"If residuals show nonconstancy of error variance, the regression results are completely invalid." Is this statement correct? Explain.

"It is necessary to do diagnostic checks of the fit even when the R-squared value is large." Is this statement correct? Explain.

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