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a. What is a residual? b. In what sense is the regression line the straight line that "best" fits the points in a scatterplot? a. What is a residual? O A. A residual is a value that is determined exactly, without any error. O B. A residual is a point that has a strong effect on the regression equation. OC. A residual is a value of y-y, which is the difference between an observed value of y and a predicted value of y. OD. Aresidual is the amount that one variable changes when the other variable changes by exactly one unit. b. In what sense is the regression line the straight line that "best" fits the points in a scatterplot? The regression line has the property that the of the residuals is the possible sum.

a. What is a residual? b. In what sense is the regression line the straight line that "best" fits the points in a scatterplot? a. What is a residual? O A. A residual is a value that is determined exactly, without any error. O B. A residual is a point that has a strong effect on the regression equation. OC. A residual is a value of y-y, which is the difference between an observed value of y and a predicted value of y. OD. Aresidual is the amount that one variable changes when the other variable changes by exactly one unit. b. In what sense is the regression line the straight line that "best" fits the points in a scatterplot? The regression line has the property that the of the residuals is the possible sum.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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a. What is a residual? b. In what sense is the regression line the straight line that "best" fits the points in a scatterplot? a. What is a residual? O A. A residual is a value that is determined exactly, without any error. O B. A residual is a point that has a strong effect on the regression equation. OC. A residual is a value of y-y, which is the difference between an observed value of y and a predicted value of y. OD. Aresidual is the amount that one variable changes when the other variable changes by exactly one unit. b. In what sense is the regression line the straight line that "best" fits the points in a scatterplot? The regression line has the property that the of the residuals is the possible sum.
Transcribed Image Text:a. What is a residual? b. In what sense is the regression line the straight line that "best" fits the points in a scatterplot? a. What is a residual? O A. A residual is a value that is determined exactly, without any error. O B. A residual is a point that has a strong effect on the regression equation. OC. A residual is a value of y-y, which is the difference between an observed value of y and a predicted value of y. OD. Aresidual is the amount that one variable changes when the other variable changes by exactly one unit. b. In what sense is the regression line the straight line that "best" fits the points in a scatterplot? The regression line has the property that the of the residuals is the possible sum.
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