Residual is the vertical distance between the observed actual value (dependent variable) and the predicted value (generated by regression equation). Formula to calculate Residual e = y – ŷ Here,e = Residualy = Observed Actual valueŷ = Predicted value 1) Observed Value (y) higher than the Predicted value (ŷ) – Positive Residual 2) Predicted value …
Residual in Regression Analysis
By ABS