Residuals & Correlation

Front

What is a residual in statistics?

Back

A residual is the difference between the observed value and the predicted value of a data point in a regression analysis.

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How do you calculate a residual?

Back

Residual = Observed value - Predicted value

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What does a positive residual indicate?

Back

A positive residual indicates that the observed value is greater than the predicted value.

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What does a negative residual indicate?

Back

A negative residual indicates that the observed value is less than the predicted value.

Front

What is a residual plot?

Back

A residual plot is a graph that shows the residuals on the vertical axis and the independent variable on the horizontal axis.

Front

What does it mean if a residual plot shows a random scatter?

Back

A random scatter in a residual plot suggests that a linear model is appropriate for the data.

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What does it mean if a residual plot shows a pattern?

Back

A pattern in a residual plot suggests that a linear model may not be appropriate for the data.

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What is the purpose of analyzing residuals?

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Analyzing residuals helps to assess the fit of a regression model and identify any potential issues.

Front

What does it mean if there are zero residuals?

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Zero residuals indicate that the predicted values perfectly match the observed values for those data points.

Front

What is correlation in statistics?

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Correlation measures the strength and direction of a linear relationship between two variables.