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When using the Regression tools you cannot plot the points of your data and your model on the same graph?
False
What does the term residual mean?
Let's say that you fit a simple regression line y = mx + b to a set of (x,y) data points. In a typical research situation the regression line will not touch all of the points; it might not touch any of them. The vertical difference between the y-co-ordinate of one of the data points and the y value of the regression line for the x-co-ordinate of that data point is called a residual.There will be one residual for each data point.To see some labelled diagrams of residuals search images.google.com for residuals.
What is the statistical study of the relationship between two sets of data?
Regression.
What is one formula statisticians use?
Some formulas statisticians may use are population mean, sample mean, variance, and standard deviation. They may also use linear regression line and standard error equations. Another can be the mean value of a data set, where one adds all data points given in a set and divides this number by the number of data points in the set.
What does it mean to say that a data point has a residual of -1?
The point lies 1 unit below the regression line.
