StatisticsdrillResidual of one observation
A statistics problem from Statisticsdrill. Solve it with one answer box, with a fresh sample on every attempt and the worked steps and spreadsheet function in the answer, and it is checked the moment you submit.
The task
Data on monthly ad spend and sales at regional stores (x = Ad spend ($k), y = Sales ($k)): (9, 87.8), (10, 98.7), (6, 81.3), (12, 99.1), (15, 111.9), (6, 78.6). Fit the least squares line. What is the residual for observation 4, at x = 12? Round to 2 decimal places.
What this problem teaches
Residual = observed y - predicted ŷ. Positive means the point sits above the line.
A hint if you get stuck
Residual = observed y - predicted ŷ. Positive means the point sits above the line.
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