Problem

In the problem, two linear models are given for the data. For the model,(a) find the resid...

In the problem, two linear models are given for the data. For the model,

(a) find the residuals and their sum;


(b) find the sum of the squares of the residuals;


(c) decide which model is the better fit.

Finance The following table shows the amount of consumer credit outstanding (excluding real estate loans) in trillions of dollars:

Year

1995

2000

2002

2004

2006

Credit

1.1

1.7

2.0

2.2

2.4

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Solutions For Problems in Chapter 2.3