Asked by
JEENAT BHATTI
on Nov 23, 2024
Verified
In regression analysis, a graph of each residual against the corresponding fitted value is called a scatter diagram.
Residual
The difference between an observed value and the value predicted by a model.
Scatter Diagram
A scatter diagram, or scatter plot, is a type of plot or mathematical diagram using Cartesian coordinates to display values for typically two variables for a set of data, indicating the relationship between them.
Fitted Value
A numerical estimate or prediction obtained from a regression model that corresponds to a specific set of explanatory variables.
- Acquire insight into the significance of residuals for verifying the accuracy of regression models.
Verified Answer
RC
Learning Objectives
- Acquire insight into the significance of residuals for verifying the accuracy of regression models.