In a regression model, a residual is the difference between the:
Correct answer: A. Observed value and predicted value
- A. Observed value and predicted value
- B. Mean and standard deviation
- C. Slope and intercept
- D. Correlation and covariance
Explanation
A residual is calculated as observed Y minus predicted Y for a particular observation. It measures the prediction error left unexplained by the fitted regression line.
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About Correlation and Regression
Correlation describes the direction and strength of association between two variables using scatter diagrams and correlation coefficients. Regression covers fitted lines, regression equations, prediction and least squares, with a clear distinction between association and causation and between estimating a response value and reversing the roles of the variables.
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