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Chapter 14: Q. 14.2 (page 561)

In Exercises 14.12-14.21, we repeat the data and provide the sample regression equations for Exercises 4.48 -4.57.

a. Determine the standard error of the estimate.

b. Construct a residual plot.

c. Construct a normal probability plot of the residuals.

y=1.75+0.25x

Short Answer

Expert verified

a. The standard error of the estimate is 鈮�1.41

b. The residual plot is

c. The normal probability plot of the residuals is,

Step by step solution

01

Part (a) Step 1: Given Information

Given table: y=1.75+0.25x

02

Part (a) Step 2: Explanation

Exercise 1514 MINITAB Output:

Analysis of Variance:

According to the output from the analysis of variance,

We know SSE SSE=4

df=n-2=4-2=2

The standard error of the estimate is calculated using the formula,

se=SSEn鈭�2=42=2=1.414213562鈮�1.41

03

Part (b) Step 3: Given Information

Given table:y=1.75+0.25x

04

Part (b) Step 4: Explanation

MINITAB is used to create the residual plot.
ProcedureforMINITAB:
Step1:SelectStat>Regression>Regressionfromthedrop-downmenu.
Step 2: In the Response box, type y.
Step 3: Fill in the columns xin Predictors.
Step4:InGraphs,underResidualsvsthevariables,inputthecolumnsxvariables.
Step5:ClicktheOKbutton.

MINITAB output:

The Residual Plot is as follows:

05

Part (c) Step 5: Given Information

Given table: y=1.75+0.25x

06

Part (c) Step 6: Explanation 

MINITAB is used to create a normal probability plot of residuals.
ProcedureforMINITAB:
Step1:SelectStat>Regression>Regressionfromthedrop-downmenu.
Step 2: In the Response box, type y.
Step 3: In Predictors, fill in the xcolumns.
Step4:SelectNormalprobabilityplotofresidualsfromtheGraphsmenu.
Step 5: Click the OK button.

The Normal probability plot of the residuals is:

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Most popular questions from this chapter

In Exercises 14.12-14.21, we repeat the data and provide the sample regression equations for Exercises 4.48 -4.57.

a. Determine the standard error of the estimate.

b. Construct a residual plot.

c. Construct a normal probability plot of the residuals.

y=14-3x

1. Suppose that \(x\) and \(y\) are two variables of a population with \(x\) a predictor variable and \(y\) a response variable.

a. The distribution of all possible values of the response variable \(y\) corresponding to a particular value of the predictor variable \(x\) is called a distribution of the response variable.

b. State the four assumptions for regression inferences.

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d. Determine a95%prediction interval for the tax efficiency of a mutual fund portfolio with 6%of its investments in energy securities.

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