The accompanying data give the prices (in dollars) for gold link chains at the Web site...
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The accompanying data give the prices (in dollars) for gold link chains at the Web site of a discount jeweler. The data include the length of the chain (in inches) and its width (in millimeters). All of the chains are 14-carat gold in a similar link style. Use the price as the response. Complete parts (a) through (f) below. Click the icon to view the gold chain data. A Residual 80- A Residual 80- A Residual 80- A Residual 80- 12000 12000 12000 -80- -80- Volume (cubic mm) Volume (cubic mm) 12000 -80- -80- Volume (cubic mm) Volume (cubic mm) How does the residual plot show that the model has improved? A. The residual plot has less of a pattern and exposes previously unknown outliers. B. There is no obvious pattern to the residuals. C. There is a clear linear pattern to the residuals. D. There is a clear nonlinear pattern to the residuals. (f) Summarize the fit of the improved model. The fit has R2 = 0.94 and s = $ 58.07 (Round to two decimal places as needed.) The accompanying data give the prices (in dollars) for gold link chains at the Web site of a discount jeweler. The data include the length of the chain (in inches) and its width (in millimeters). All of the chains are 14-carat gold in a similar link style. Use the price as the response. Complete parts (a) through (f) below. Click the icon to view the gold chain data. A Residual 80- A Residual 80- A Residual 80- A Residual 80- 12000 12000 12000 -80- -80- Volume (cubic mm) Volume (cubic mm) 12000 -80- -80- Volume (cubic mm) Volume (cubic mm) How does the residual plot show that the model has improved? A. The residual plot has less of a pattern and exposes previously unknown outliers. B. There is no obvious pattern to the residuals. C. There is a clear linear pattern to the residuals. D. There is a clear nonlinear pattern to the residuals. (f) Summarize the fit of the improved model. The fit has R2 = 0.94 and s = $ 58.07 (Round to two decimal places as needed.)
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