Question: In problem 12.6 on page 466, a professor wanted to estimate the spending of his students based upon their income. Perform a residual analysis for

In problem 12.6 on page 466, a professor wanted to estimate the spending of his students based upon their income.

Perform a residual analysis for these data. Based on these results:

a. Determine the adequacy of the fit of the model.

b. Evaluate whether the assumptions of regression have been seriously violated.

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