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Residual point
A residual is defined in the context of some "expected" value. There is no information in the question regarding expected values.
The point lies one unit above the regression line.
The point lies 1 unit below the regression line.
the residual is the difference between the observed Y and the estimated regression line(Y), while the error term is the difference between the observed Y and the true regression equation (the expected value of Y). Error term is theoretical concept that can never be observed, but the residual is a real-world value that is calculated for each observation every time a regression is run. The reidual can be thought of as an estimate of the error term, and e could have been denoted as ^e.
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.
Residual point
A residual is defined in the context of some "expected" value. There is no information in the question regarding expected values.
The point lies one unit above the regression line.
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.
yes
-1.5
1
Answer: 1.5
ItS 2
Residual value
residual value