Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 19 Jan 2018 My Price 5.00

Prices of antique clocks.

Prices of antique clocks. Refer to the grandfather clock example, Example 4.1 (p. 183). The least squares model used to predict auction price, y, from age of the clock, x1, and number of bidders, x2, was determined to be

(a) Use this equation to calculate the residuals of each of the prices given in Table 4.1 (p. 171).

(b) Calculate the mean and the variance of the residuals. The mean should equal 0, and the variance should be close to the value of MSE given in the SAS printout shown in Figure 4.3 (p. 172).

(c) Find the proportion of the residuals that fall outside 2 estimated standard deviations (2s) of 0 and outside 3s

(d) Rerun the analysis and request influence diagnostics. Interpret the measures of influence given on the printout.

 

 

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Maurice Tutor
(5)
Status NEW Posted 19 Jan 2018 10:01 PM My Price 5.00

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