Make a scatterplot with sales as the response variable and production as the explanatory variable. Describe the relationship. Are there any outliers or influential observations?
Find the least-squares regression line and add it to your plot.
What is the predicted value of sales for a country that has an index of 125 for production?
Finland has an index of 125 for production. Find the residual for this country.
What percent of the variation in sales is explained by production? How does this value compare with the percents of variation that you calculated in the two previous exercises?
2.123
(a) There is little to no relationship. There are four potential outliers. (b) . (c) . (d) 9.3738. (e) 2.29%.