Problem 10: Multiple Choice Which of the following statements is true about resi

Question

Problem 10: Multiple Choice Which of the following statements is true about residuals? a. The residual can be computed by finding the difference between the deterministic com- ponent and the random component of the regression model. b. The residual can be found by finding the difference between the actual observed value and the predicted value of the dependent variable. c. The residual can be found by finding the difference between the actual observed value and the predicted value of the independent variable. d. All of the above are true. e. None of the above are true.

Explanation / Answer

Residual represents the difference between actual observed value and predicted value of dependent variable.

Hence,

Option B is correct.

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