STATISTICAL TECHNIQUES AND TOOLS
REGRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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point far from all the other points
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point that, when omitted, causes the line to change significantly
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point that all other points are centered around
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None of these
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Detailed explanation-1: -Outlier: An outlier is a data point that does not fit with the rest of the data. An outlier can be higher or lower than expected, or displaced more to the right or left than expected. Outliers can effect regression lines, making the regression lines less accurate in predicting other data.
Detailed explanation-2: -Least squares regression is used to predict the behavior of dependent variables. The least squares method provides the overall rationale for the placement of the line of best fit among the data points being studied.
Detailed explanation-3: -An influential point is a point that has a large impact on the regression. Surprisingly, these are not the same thing. A point can be an outlier without being influential. A point can be influential without being an outlier. A point can be both or neither.