A collector of grandfather clocks believes that the price received for the clocks at an auction increases with the number of bidders, but at an increasing (rather than a constant) rate. Thus, the model proposed to best explain auction price , in dollars) by number of bidders is the quadratic model
This model was fit to data collected for a sample of 32 clocks sold at auction; a portion of the printout follows:
An outlier for the model is a clock with a residual that _____in absolute value. (Fill in the blank.)
A) exceeds 133
B) exceeds .893
C) is less than 266
D) exceeds 399
Correct Answer:
Verified
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