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How does apply the methods for detecting outliers

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Reference no: EM131731747

Question: A residual is the difference between an observed value of y and the predicted value of y for that observation. Based on the size of a residual for an observation, how would you decide if the observation is an outlier? Is it enough to know the value of the residual, or do you need to know other information to make this judgment? How could you apply the methods for detecting outliers?

Reference no: EM131731747

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