What does it mean to say that a data point has a residual of 1?A.The point lies 1 unit above the regression line.B.The point lies 1 unit below the regression line.C.The point lies directly on the regression line.D.The x-coordinate of the point is 1.
Question
What does it mean to say that a data point has a residual of 1?A.The point lies 1 unit above the regression line.B.The point lies 1 unit below the regression line.C.The point lies directly on the regression line.D.The x-coordinate of the point is 1.
Solution
The correct answer is A. The point lies 1 unit above the regression line.
In statistics, a residual is the difference between the observed value of a variable and the value predicted by a statistical model. A positive residual indicates that the observed value is greater than the predicted value, while a negative residual indicates that the observed value is less than the predicted value.
So, if a data point has a residual of 1, it means that the observed value of the data point is 1 unit greater than the value predicted by the model. In the context of a regression line, this means that the data point lies 1 unit above the line.
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