Examlex
A residual is the difference between the observed value of Yi and the value predicted by the regression equation,Ŷi.
Utility Cost
The expense incurred for using utilities such as electricity, water, and natural gas in a business operation.
Total Cost
The sum of all costs associated with the production and delivery of a company's products or services, including both fixed and variable costs.
Manufacture Units
The process of converting raw materials into finished goods on a large scale, measured by units produced.
Least-squares Regression
A statistical method used to determine the line of best fit by minimizing the square of the differences between observed values and values predicted by a linear function.
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