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A Regression Equation Is Obtained for a Set of Data

question 47

Essay

A regression equation is obtained for a set of data. After examining a scatterplot, the researcher notices a data point that is potentially an influential observation. How could the researcher confirm that this data point is indeed an influential observation? How should the researcher proceed if the data point is found to be an influential observation?


Definitions:

Market Values

The current price at which an asset or service can be bought or sold in the marketplace.

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