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? A. A residual is a value of y−y, which is the difference between an observed value of y and a predicted value of y. B. A residual is a value that is determined exactly, without any error. C. A residual is the amount that one variable changes when the other variable changes by exactly one unit. D. A residual is a point that has a strong effect on the regression equation. 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 ▼ sum of squares sum of the residuals is the ▼ lowest highest possible sum.
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.
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