Using the average baseball salary from 2000 through 2012 data for Problem 16.18 on page 626 and Problem 16.30 on page 634 (stored in BBSalaries).
a. Perform a residual analysis for each model.
b. Compute the standard error of the estimate (SYX) for each model.
c. Compute the MAD for each model.
d. On the basis of (a) through (c) and the principle of parsimony, which forecasting model would you select? Discuss.