For Exercise 11.11,a. Locate the least-squares regression equation for the data.b. Interpr...

For Exercise 11.11,

a. Locate the least-squares regression equation for the data.

---

b. Interpret the slope coefficient. Is the intercept meaningful?

---

c. Find the residual standard deviation.

Exercise 11.11

A realtor studied the relation between x = yearly income (in thousands of dollars per year) of home purchasers and y = sale price of the house (in thousands of dollars). The realtor gathered data from mortgage applications for 24 sales in the realtor’s basic sales area in one season. Stata output was obtained, as shown after the data.

a. A scatterplot with a LOWESS smoother, drawn using Minitab, follows. Does the relation appear to be basically linear?

---

b. Are there any high leverage points? If so, which ones seem to have high influence?