Assume that the Least Squares regression equation resulting

Assume that the Least Squares regression equation resulting from this data is Salary = 13.4 + 4*GPA. One of the students in the data set has a GPA of 3.0 and a starting salary of 30.5 (thousand dollars). Based on this information, find the residual (error) in this outcome. In other words, how much error was in the model\'s prediction?

Solution

Assume that the Least Squares regression equation resulting from this data is Salary = 13.4 + 4*GPA. One of the students in the data set has a GPA of 3.0 and a

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