what is meant by the term “residual”?

Q: In linear regression, how can you minimise the error between predicted and actual observed values?

A: Suppose a sample of n sets of paired observations is available. These observationsare assumed to…

Q: find out the mean profits:

A: We have to calculate the mean for given grouped frequency distribution of profits per shop.

Q: Explain the assumptions are needed to calculate the various inferential statistics of linear…

A: The assumptions needed for inferential statistics of linear Regression is  The dependent variable…

Q: What are the assumptions of the Regression analysis?

A:

Q: What is the percentage of the total variation in infant mortality that has been explained by this…

A: It is given that Response variable : infant mortality rate Number of predictors : 3 namely x1, x2…

Q: The percent of the total variance that can be explained by the regression equation is

A: Given information: a=684.65b=7.2884r2=0.99724

Q: If we include an additional independent variable in our regression, the total sum of squares of our…

A: Given that

Q: How do you know when to do a correlation vs a regression?

A: Correlation is defined as to know the relationship between two independent variables Whereas…

Q: Statisticians are often called upon to develop methods to predict one variable from other variables.…

A: Regression analysis estimates the effect that changing one independent variable has on the…

Q: A correlation of r = -1 indicates that as the X-variable increases the Y-variable decreases. True or…

A: The correlation coefficient is a numerical measure of the strength of the relationship between two…

Q: What is A REGRESSION LINE?

A: A regression line is a line which is generally used to estimate a dependent or response variable…

Q: What is the difference between y hat and y bar when talking about regression?

A: Regression: Regression analysis estimates the relationship among variables. That is, it estimates…

Q: Suppose we fit a regression line to predict the number of incidents of skin cancer per 1,000 people…

A: Given that predicted value = 1.5 Residual = 0.5

Q: The residual is the difference between the observed value of the independent variable and the…

A: Given: True False question .

Q: In linear regression, the mean value of all residuals will be greater for a correlation of -.70 than…

A: The mean (or expected) value of all residuals will be greater for correlation of -0.70 than for a…

Q: Which graph used in a residual analysis provides roughly the same information as a scatterplot? What…

A:

Q: What does it mean when one of the two main effects is significant?

A: Given problem Given that   What does it mean when one of the two main effects is significant ?

Q: What are the assumptions of Inferential statistics in regression?

A: Regression analysis is used to predict the dependent variable by using the one or more independent…

Q: Why is regression analysis the 'magic elixir'?

A: Regression analysics is a set of statistical methods used for the estimation of relationships…

Q: regression?

A: Housing Values depends on the waste development.

Q: Explain the IV Regression Assumptions?

A: Introduction: A multiple regression analysis is often found to contain endogenous predictor…

Q: What is a numerical prediction from the regression line equation shown in the photo?

A: Here, the regression line equation is " Height ( in. ) = 52.293743 + 1.3679745 Shoe size ( in. ) ".…

Q: Discuss what can go wrong and the caution that need to be exercised when using regression models.

A: Things that can go wrong and the caution that need to be exercised when using regression models are…

Q: What is regression models?

A: To define Regression model:

Q: Write short note on regression line?

A: Introduction: Independent and dependent variables in regression: In a simple regression, the…

Q: What is Regression Analysis?

A: Given: Regression Analysis

Q: What is a simple way to check for normality of residuals in a regression model?

A: First of all, testing of normality of residual is important for any regression model because it it…

Q: Explain the Theory of Linear Regression with One Regressor?

A:

Q: Discuss the usefulness of regression.

A: Regression: It is a statistical method used in finance, investment, or other disciplines attempting…

Q: Define "regression coefficient"?

A:

Q: What is the symbol for the residual?

A: The difference between the observed and predicted value of the dependent variable is known as the…

Q: What is the independent variable using the table below showing the regression of assets and revenue?

A: Independent variable: The variable which does not influenced by other variables then it is called as…

Q: Define Multiple Regression?

A: Regression It is used to describe connection between a response variable and one or more regressors

Q: When would a difference in difference regression model be an appropriate regression model to…

A: let us first try to understand the basis of regression analysis Definition: Regression analysis is a…

Q: What is the simple regression line that can best predict the sales from the advertising expenditures…

A:

Q: What are the Cautions in Regression Analysis?

A: Regression analysis is a set of statistical methods used for the estimation of relationships between…

Q: Explain the standard error of the regression?

A:

Q: Discuss the differences between an error and a residual.

A: Given : Two measures Error  Residual

Q: Does data have to always be numerical in statistics?

A: Does data have to always be numerical in statistics

Q: Why is it that the exponential smoothing method offers a better forecast accuracy?

A: Exponential Smoothing: This is a very popular scheme to produce a smoothed Time Series. Whereas in…

Q: Explain the concept of Linear Regression with Multiple Regressors?

A: Regression Analysis: Regression analysis is used to study the relationship between two or more…

Q: Can that regression be used to estimate the effect of the national unemployment rate on an…

A:

Q: Define Regression Methods?

A: Introduction The regression equation is used for the prediction of y values which depends upon the…

Q: What are the different ways to reduce the error in least square regression?

A: The error term follows normal distribution with mean 0 and constant variance. The error term is same…

Q: Which statement is not correct for multiple regression model?

A: Multiple regression is an extension of the simple regression model.

Q: If the coefficient of determination is 0.233, what percentage of the data about the regression line…

A: Coefficient of Determination: It is denoted by r2, here r represents the correlation between the two…

Q: It's very uncommon for researchers to amass large amounts of data over time before feeding them into…

A: Share A Researcher is a person  who conducts research.i.e.-an organized and systematic…

Q: The correlation between two variables x and y is –0.6. If we used a regression line to predict y…

A:

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related. 

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.