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Earn +20 ptsQ: What is normal error term?
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Continue Learning about Math & Arithmetic
What is the term for -3x is -3?
0
How is variance of error term is derived?
Sse = ssr / ( n - k)
What term defined as anything that can distort data and lead to inaccurate conclusion?
error
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.
What does the term percent error refer to?
An error is the difference between a predicted value and the actual, observed, value. The percent error tells the user how close or how far off one was from the actual value in the form of a percentage.
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