STAT150 Lecture Notes - Lecture 9: Null Hypothesis, Scatter Plot, Unimodality
14 Aug 2018
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Used toyota corollas: generally as the age of a car increases, the price of the car decreases. This is a negative liner r/s: a 10 year old car should cost around ,000. Is the cost of a space project dependent on the weight of the space shuttle? (x weight, y cost) Is assessed house price a good predictor of the realised sale price? (x assessed price, y sale price: are total australian cd sales useful in determining concert attendance? (x cd sales, y concert attendance) The line of best fit: y (predicted value on the line) = b0 (y-int) + b1x (slope) Residual difference b/w observed and predicted value: e = y y : negative residual observed value lower than predicted value, positive residual observed value higher than predicted value. Square the residuals and then add them up a small value would indicate points close to the line (good fit)
