By examining residuals, determine which type of property had the most impact on the test results? What are the implications for the real estate agency?

Question

Quizplus · Accepted Answer

The Answer is Condominiums type of property has the highest standardized residual (5.765) and its χ2 component is the largest (33.232). More people bought condominiums than would have been expected based on the historical distribution. The real estate agency should try and list as many condominiums as possible.

By Examining Residuals, Determine Which Type of Property Had the Most