Question: MAT 620 Homework Assignment 1 (a) Summarize how an outlier, an observation with high leverage, and an influential observation are different. (b) There are several

MAT 620 Homework Assignment 1
  1. (a) Summarize how an outlier, an observation with high leverage, and an influential observation are different.
  2. (b) There are several diagnostic measures to identify extreme observations. Summarize how to use the following diagnostic measures that are available as an option in most of statistical packages: (i) studentized residual, (ii) leverage value (h_i, diagonal element of the hat matrix), (iii) Cooks D, (iv) DFFITS.

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