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How do I find and interpret the residual?
(Elementary statistics)

How do I find and interpret the residual? (Elementary statistics)-example-1
User Tim Lehner
by
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1 Answer

20 votes
20 votes

Answer:

y value , r i = y i − y i ^

Explanation:

Residual = actual y value − predicted y value , r i = y i − y i ^ . Having a negative residual means that the predicted value is too high, similarly if you have a positive residual it means that the predicted value was too low. The aim of a regression line is to minimise the sum of residuals.

User Peterhurford
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