Business The following table gives the number of completed new single family homes (in tho...

Business The following table gives the number of completed new single family homes (in thousands) from the years 2002 to 2012. (Data from: U.S. Census Bureau.)

Use your answers from Exercise to calculate the residuals for each year in the table. Make a graph of the residuals similar to Figure.

Exercise

Use the model from Exercise to calculate the predicted values ŷ for each year in the table

Exercise

If you have access to the appropriate technology, verify that the least-squares regression line that models these data (with rounded coefficients) is y = -146.1x + 2330 , where x = 2 corresponds to the year 2002.