Answer
Difference between the observed y value and predicted y value is called the error of prediction or residual.
Work Step by Step
Explained in answer
Statistics (12th Edition)
by McClave, James T.; Sincich, Terry T.
Published by
Pearson
ISBN 10:
0321755936
ISBN 13:
978-0-32175-593-3
Chapter 11 - Simple Linear Regression - Exercises 11.11 - 11.31 - Understanding the Principles - Page 561: 11.11
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