STATISTICAL TECHNIQUES AND TOOLS
REGRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A residual is defined as
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The difference between the actual Y values and the mean of Y.
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The difference between the actual Y values and the predicted Y values.
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The predicted value of Y for the average X value.
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The square root of the slope.
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Explanation:
Detailed explanation-1: -Definition. The residual for each observation is the difference between predicted values of y (dependent variable) and observed values of y . Residual=actual y value−predicted y value, ri=yi−^yi.
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