Question

What does a residual value of –0.8 mean in reference to the line of best fit?

Answer 1

Answer:

Residual value of -0.8 means the actual point is 0.8 units below the best fit line.

Step-by-step explanation:

The difference between the observed value of the dependent variable and the predicted value is called the residual.

Mathematically,

$e = y -\hat{y}$

where,

e = residual,

y = observed value,

ŷ = predicted value.

When the residual is negative, the data point is below the graph or best fit line.

Residual value of -0.8 means the actual point is 0.8 units below the best fit line. It also means that the actual value is 0.8 lesser than the predicted value.

Answer 2

The given point is 0.8 units below the line of best fit