Residual Plot

Definition

A residual plot shows the differences between observed and predicted values in regression analysis. It helps identify patterns or trends in these differences, indicating whether linear regression assumptions are met.

Related terms

Regression Analysis: Regression analysis is a statistical method used to model and analyze relationships between variables.

Homoscedasticity: Homoscedasticity refers to the assumption that the variability of residuals is constant across all levels of predictor variables.

Linearity: Linearity assumes that there is a linear relationship between predictor variables and the response variable in regression analysis.