What is the monthly payment on a 15-year loan of $72,700 if the annual interest rate is 12%?
1 answer:
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Answer:
The residual value is -0.75
Step-by-step explanation:
we know that
The residual value is the observed value minus the predicted value.
RESIDUAL VALUE=[OBSERVED VALUE-PREDICTED VALUE]
where
Predicted value.--> the predicted value given the current regression equation
Observed value. --> The observed value for the dependent variable.
in this problem
we have the point (1,4)
so
The observed value is 4
<em>Find the predicted value for x=1 </em>
predicted value is 4.75
so
RESIDUAL VALUE=(4-4.75)=-0.75