Residual plot against x residual yy good pattern 0 x

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Unformatted text preview: 0 x Simple linear regression summary 1. Hypothesize deterministic component 2. Estimate unknown model parameters 3. Specify probability distribution of random error term and estimate standard deviation of error 4. Confidence interval and testing. 5. Model validation—residual analysis. 6. Use model for prediction & estimation...
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