With regression analysis, when we make predictions and compare the differences between our predictions and the actual results, we are looking at residuals to determine the standard error of the estimate.

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Quizplus · Accepted Answer

This statement is true. Residuals are the differences between the predicted values and the actual values in a regression analysis, and they are used to determine the standard error of the estimate.

With Regression Analysis, When We Make Predictions and Compare the Differences