Question

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?

Answer 1

Answer:

a. A residual is how far off a point is from the expected value. For example, if I were to estimate the weight of my Southeastern Lubber Grasshopper, I would say it's maybe 5 ounces. But, in reality, it might be 4 ounces. So, the residual would be the reality minus the prediction, or 4 - 5, or -1 ounce.

b. The regression line is the line of predicted values for the points in the scatterplot. It tries to predict the points and make all the points be on the line.

Hope this helps!