Question

What does it mean to say that a data point has a residual of -1?

Answer 1

In regression analysis, the difference between the observed value of the dependent variable (y) and the predicted value (ŷ) is called the residual (e). Each data point has one residual. Both the sum and the mean of the residuals are equal to zero.

Answer 2

A. The predicted value for that point is -1.
B. The point lies 1 unit below the regression line.
C. The point lies directly on the regression line.
D. The point lies 1 unit above the regression line.

Answer 3

B