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the amount a car is said to be worth at the end of the lease

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Q: Which of these describes the term residual value?
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What describes the term residual value?

the amount a car is said to be worth at the end of the lease


What term describes a value with no decimal or fraction?

An integer


Which term best describes a value that change or is unknown?

variable


What is the difference between the stochastic error term and the residual?

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.


What do you mean by equity in finance?

Equity in finance refers to the residual value of assets. The term equity can also be used in association with accounting.


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.


Which term below describes how close a measurement is to the true value?

significant figures


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.


Does mutually mean equal?

No. Mutually describes having the same relationship, where equal is a term that better describes value and/or equality.


Is residual value the same thing as salvage value?

yes


Which term best describes the set of all possible output value for a function?

Range.


What describes the literary term ''myth''?

A story with great explanatory and cultural value to society