For the House Selling Prices FL data set on the text CD, when we regress y = selling price (in

QUESTION:

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For the House Selling Prices FL data set on the text CD, when we regress y = selling price (in dollars) on x = number of bedrooms, we get the results shown in the printout.

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a. One home with three bedrooms sold for $338,000. Find the residual, and interpret.

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b. The home in part a had a standardized residual of 4.02. Interpret.

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House selling prices and number of bedrooms

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