What does a residual plot tell us about the fit of the model?
- It indicates how well the model's predictions match the actual data
- It indicates the variance of the residuals
- It shows the correlation between the dependent and independent variables
- It shows the relationship between the dependent and independent variables
A residual plot shows the residuals on the y-axis and the independent variable on the x-axis. If the points in a residual plot are randomly dispersed around the horizontal axis, a linear regression model is appropriate for the data; otherwise, a non-linear model is more appropriate.
Loading...
Related Quiz
- In which situation is Spearman's Rank Correlation preferable to Pearson's correlation?
- How does the confidence level of an interval influence the width of that interval?
- How do post-hoc tests in ANOVA assist in interpreting the results?
- In a multiple linear regression equation, the ________ represents the expected change in the dependent variable for a one-unit change in the corresponding independent variable, holding all other independent variables constant.
- Under what circumstances can the conditional probability of an event be equal to its marginal probability?