F Draw A Boxplot Or Histogram Of The Residuals Are There Any Outliers Include Your Plot Here And Explain Your Answer 1 (68.57 KiB) Viewed 88 times
F Draw A Boxplot Or Histogram Of The Residuals Are There Any Outliers Include Your Plot Here And Explain Your Answer 2 (47.39 KiB) Viewed 88 times
f. Draw a boxplot or histogram of the residuals. Are there any outliers? Include your plot here and explain your answer. 9. Assuming the residuals are normally distributed, test whether a linear relation exists between the Estimate and selling price. Use the a=0.05 level of significance. Use the steps of the hypothesis test as outlined in the book. (You have already checked the conditions.) h. Choose an Estimate price that is not outside the scope of your model. Use the regression model from part (oto predict the mean sale price of all homes with the Estimate price you selected. i. Why did you need to choose an Estimate price that is not outside the scope of your model? j. Construct a 95% confidence interval for the mean sale price of all homes whose Estimate is equal to the value chosen in part (h). k Construct a 95% prediction interval for the sale price of a particular home whose Estimate is equal to the value chosen in part (h). Explain why the predicted sale price found in parts (1) and (k) are the same, yet the intervals are different I.
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