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Name one or more graphs that can be used to validate each of the following assumptions. For each graph, sketch an example where the corresponding
Name one or more graphs that can be used to validate each of the following assumptions. For each graph, sketch an example where the corresponding assumption is valid and an example where the assumption is clearly invalid.
(i)The error terms are uncorrelated with X
(ii)The observations are equally influential on least squares results
(iii) The observations are outliers in response
(iv) The observations are outliers in predictors
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