Question

The difference between the observed value of the dependent variable and the value predicted using the estimated regression equation is known as the _____. Group of answer choices constant term error term residual model parameter

Answer 1

The difference between the observed value of the dependent variable and the value predicted using the estimated regression equation is known as the Residual model.

What is regression?

Regression is the process used to predict the variation in one variable based on another variable.

What are the dependent variable and the independent variable?

• The variable that is to be predicted by the regression is called the dependent variable or response variable since it depends on another variable.
• The variable that is used to predict the dependent variable is called the independent variable or explanatory variable since it explains the variation in the required variable.
• The dependent values belong to the y-axis and the explanatory values belong to the x-axis.

What is a residual model?

The difference between the observed value of the dependent variable and the value predicted using the estimated regression equation is known as the residual model.

This value s predicted by the regression line.

Residual = Observed value - predicted value

Therefore, the difference is known as residual.

Learn more about the regression analysis here:

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