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The following problem is reprinted from the November 1989 Actuarial Examination on Applied Statistical Methods. Source:...

The following problem is reprinted from the November 1989 Actuarial Examination on Applied Statistical Methods. Source: Society of Actuaries.

Consider the following table of data

x y
1 1
1 2
2 1
2 2
9 9

(a) Calculate the least squares line and the correlation coefficient.

(b) Repeat part (a), but this time delete the last point.

(c) Draw a graph of the data, and use it to explain the dramatic difference between the answers to parts (a) and (b).

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Colby Messinger answered 1 year ago
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