Regression Wisdom. Getting to Know Your Scatterplot and Residuals. Important Terms. Extrapolation (203) Outlier (205) Leverage (206) Influential Point (206) Lurking Variable (208). Residuals.
Getting to Know Your Scatterplot and Residuals
- We can form subsets of the same population to try and achieve a better analysis of the data.
- Sometimes the easiest way to achieve this is to examine a plot or histogram of residuals
Not high leverage
Not Large Residual
Pg 214, #1, 3, 4, 8, 10