What you’ll learn to do: Identify outliers graphically and numerically by a given scatter plot and comparing residuals to two standard errors
Can we predict the price of a diamond ring from the size (or the number of karats) of the diamond? Although a linear model may be a good fit for most diamonds, there could be diamond rings that don’t follow the general trend of prices due to additional ring features, which make the ring more expensive. Identifying points that don’t follow the general trend will be discussed in this section.
Candela Citations
CC licensed content, Original
- Provided by: Lumen Learning. License: CC BY: Attribution
CC licensed content, Shared previously
- Close Up Photo of Diamond Stud Silver-colored Eternity Ring. Authored by: Leah Kelley. Provided by: Pexels. Located at: https://www.pexels.com/photo/close-up-photo-of-diamond-stud-silver-colored-eternity-ring-691046/. License: CC0: No Rights Reserved