Fill in the blanks. a. Based on the least-squares criterion, the line that best

Question

Fill in the blanks. a. Based on the least-squares criterion, the line that best fits a set of data points is the one having the 1) possible sum of squared errors. b. The line that best fits a set of data points according to the least-squares criterion is called the ine. C. Using a regression equation to predictions for values of the predictor variable outside the range of the observed values of the predictor variable is called In the context of regression analysis, what is an: a. gutliex? b. influential observation? 2)

Explanation / Answer

1, (a) least

(b) regression

(c) extrapolation

2. (a) outlier:

A data point whose response y does not follow the general trend of the rest of the data.

(b) Influencial observation:

An observation for the regression analysis whose deletion from the data set will change drastically the parameter estimation.

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