Question

The difference between the observed value of the dependent variable and the value predicted using the estimated regression equation is known as the

a. constant term.
b. error term.
c. Jesidual.
d. model parameter

Answer 1

C,residual

Explanation:

using the definition of the residual term as in statistics which states that The difference between the observed value of the dependent variable and the value predicted using the estimated regression equation; for the ith observation the ith residual is yI - ˆyI. with this definition, it can be seen that the answer is C.