0
What else can I help you with?
What is the point on the scatterplot representing the mean x value and mean y value?
Residual point
What is the residual for the point (36)?
A residual is defined in the context of some "expected" value. There is no information in the question regarding expected values.
What you mean by residual value?
The point lies one unit above the regression line.
What does it mean to say that a data point has a residual of -1?
The point lies 1 unit below the regression line.
What is the difference between the stochastic error term and the residual?
Ah, the stochastic error term and the residual are like happy little clouds in our painting. The stochastic error term represents the random variability in our data that we can't explain, while the residual is the difference between the observed value and the predicted value by our model. Both are important in understanding and improving our models, just like adding details to our beautiful landscape.
When is a residual negative?
The residual for a particular point in a regression is negative if the estimated or fitted value at that point is greater than the observed value.
What is the point on the scatterplot representing the mean x value and mean y value?
Residual point
What does it mean to say that a data point has a residual of zero?
If a data point has a residual of zero, it means that the observed value of the data point matches the value predicted by the regression model. In other words, there is no difference between the actual value and the predicted value for that data point.
What is the residual for the point (36)?
A residual is defined in the context of some "expected" value. There is no information in the question regarding expected values.
What you mean by residual value?
The point lies one unit above the regression line.
What is the definition for 'residual value'?
Residual value is the future value of a good after depreciation of its initial value. For example you bought a car for $20,000. After two years and 60,000 of mileage it will value of $10,000.
What is cost plus residual value?
The residual value of "cost plus" is whatever is charged which exceeds the cost. Example: I provide a quote the terms for a project as being "cost plus 20%". If the cost for my project is $100, then I would bill $120. The residual value is $20.
Is residual value the same thing as salvage value?
yes
Which of these is not part of the information about tires?
residual value
Is not included on a typical tire?
Residual value
Which is the residual value when x-2?
ItS 2
What is the residual for the point 5 12?
1
