Prior to beginning work on this discussion forum, read Chapter 11: Regression Analysis: Statistical Inference, paying attention to Section 11-7 on outliers and Figures 11.13, 11.14, and 11.15. Additionally, read Chapter 12: Time Series Analysis and Forecasting.
For this discussion,
Assess the use of various decision support tools and explain why outliers are sometimes called influential observations.
Discuss what could happen to the slope of a regression of Y versus a single X when an outlier is included versus when it is not included.
Will this necessarily happen when a point is an outlier?
You are required to give at least two examples in your response.