Which of the following correctly describe a residual? Check all that apply.
^
A. y- y
B. The difference between the actual value and the predicted value
C. The number of points that fall on the regression line
D. The mean of the x and y values
Answer:
A residual is the difference
y−y^
between the observed value, y, of a variable and the corresponding value, y-hat, that is obtained when a model is derived from the observed values of the data.
In the case of the least squares ‘y on x’ regression line, a residual is the vertical distance from a point representing an observed value to the regression line.