Question: What is the process for calculating residuals. What correlation coefficient is representative of a good best-fit line? What shape of the residual plot is representative

  1. What is the process for calculating residuals.
  2. What correlation coefficient is representative of a "good" best-fit line? What shape of the residual plot is representative of a "good" best-fit line? Why is this?
  3. When reading a computer output for regression, what values are used for the LSR line?
  4. When is it appropriate to transform data to achieve linearity, and how do you know the transformation you chose is appropriate?
  5. What is the coefficient of determination?

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