Two Variable Statistics

Front

What is a residual in statistics?

Back

The difference between the observed value and the predicted value from a regression model.

Front

What does a correlation coefficient indicate?

Back

It measures the strength and direction of a linear relationship between two variables, ranging from -1 to 1.

Front

What is the Line of Best Fit?

Back

A straight line that best represents the data on a scatter plot, used for making predictions.

Front

What does the y-intercept represent in a linear equation?

Back

The value of the dependent variable when the independent variable is zero.

Front

What does the slope of a line represent in a linear relationship?

Back

The rate of change of the dependent variable for each unit change in the independent variable.

Front

How do you calculate the residual for a given data point?

Back

Residual = Observed value - Predicted value.

Front

What is the significance of a correlation coefficient close to 1?

Back

It indicates a strong positive linear relationship between the two variables.

Front

What does a negative correlation coefficient signify?

Back

It indicates that as one variable increases, the other variable tends to decrease.

Front

What is the purpose of using a scatter plot?

Back

To visually display the relationship between two quantitative variables.

Front

What does it mean if the residuals are randomly scattered?

Back

It suggests that the linear model is a good fit for the data.