Question: Using the average baseball salary from 2000 through 2013 data for Problem 16.18 on page 646 and Problem 16.30 on page 654 (stored in BB-Salaries),

Using the average baseball salary from 2000 through 2013 data for Problem 16.18 on page 646 and Problem 16.30 on page 654 (stored in BB-Salaries),
a. Perform a residual analysis for each model.
b. Compute the standard error of the estimate (SYX) for each model.
c. Compute the MAD for each model.
d. On the basis of (a) through (c) and the principle of parsimony, which forecasting model would you select? Discuss.

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