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
