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The manager of a fast food restaurant wants to determine how sales in a given week are related to the number of discount vouchers (#) printed in the local newspaper during the week. The number of vouchers and sales ($000s) from 10 randomly selected weeks is given below with the predicted sales.
Calculate the residuals. Plot the residuals against the predicted values of y. Does the variance appear to be constant?
Observations
The act of observing something or the data collected during an event or process.
Populations
The entire group of individuals or instances about whom the data is collected or a study is conducted.
Elements
The entities on which data are collected.
Samples
Collections or subsets of data taken from a larger population, used to analyze and make inferences about the population.
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