Han creates a scatter plot that displays the relationship between the number of items sold, \(x\), and the total revenue, \(y\), in dollars. Han creates a line of best fit and finds that the residual for the point \((13, 930)\) is -40. Interpret the meaning of -40 in the context of the problem.
Problem 2
The line of best fit for a data set is \(y = 1.1x + 3.4\). Find the residual for each of the coordinate pairs, \((x,y)\).
\((5, 8.8)\)
\((2.5, 5.95)\)
\((0, 3.72)\)
\((1.5, 5.05)\)
\((\text{-}3, 0)\)
\((\text{-}5, \text{-}4.86)\)
Problem 3
Plots of the residuals for four different models of the same data set are displayed. Which of the following represents the plot of the residuals from a model that fits its data best?
A residuals plot. Horizontal from 0 to 10, by 1's. Vertical, negative 4 to 4, by 0 point 5's. 10 dots as follows: 1 comma 3 point 46, 2 comma 2 point 22, 3 comma negative 0 point 03, 4 comma 2 point 73, 5 comma 0 point 49, 6 comma negative 0 point 25, 7 comma negative 2 point 2, 8 comma negative 1 point 94, 9 comma negative 1 point 48, 10 comma negative 1 point 22.
A residuals plot. Horizontal from 0 to 10, by 1's. Vertical, negative 4 to 4, by 0 point 5's. 10 dots as follows: 1 comma 0 point 74, 2 comma 0 point 06, 3 comma negative 1 point 61, 4 comma 1 point 7, 5 comma 0 point 03, 6 comma negative 0 point 15, 7 comma negative 1 point 52, 8 comma negative 0 point 7, 9 comma 0 point 32, 10 comma 1 point 14.
A residuals plot. Horizontal from 0 to 10, by 1's. Vertical, negative 4 to 4, by 0 point 5's. 10 dots as follows: 1 comma negative 1 point 5, 2 comma negative 2, 3 comma negative 3 point 5, 4 comma 0, 5 comma negative 1 point 5, 6 comma negative 1 point 5, 7 comma negative 2 point 7, 8 comma negative 1 point 7, 9 comma negative 0 point 5, 10 comma 0 point 5.
A residuals plot. Horizontal from 0 to 10, by 1's. Vertical, negative 4 to 4, by 0 point 5's. 10 dots as follows: 1 comma 3 point 32, 2 comma 2 point 64, 3 comma 0 point 96, 4 comma 4 point 28, 5 comma 2 point 61, 6 comma 2 point 43, 7 comma 1 point 05, 8 comma 1 point 87, 9 comma 2 point 89, 10 comma 3 point 71.
Problem 4
A local car salesperson created a scatter plot to display the relationship between a car’s sale price in dollars, \(y\), and the age of the car in years, \(x\). The scatter plot and the line of best fit are displayed in the graph.
A scatterplot. Horizontal, from 0 to 12, by 1’s, age of car, years. Vertical, from 0 to 35000, by 5000’s, car sale price, dollars. 12 dots, trend linearly downward and right, dot 1 at 1 comma 20000 and dot 12 at 12 comma 2500 with line of best fit.
The car salesperson looks at the residuals for the car sales.
For a car that is 4 years old, does the salesperson sell above or below her expected selling price? Explain your reasoning.
For a car that is 12 years old, does the salesperson sell above or below her expected selling price? Explain your reasoning.