Explain what residuals are. Where do residuals come from? How are residuals calculated? Complete the table below by calculating the residuals for the following small data set. The linear model relating x and y is y = 5 - 10x.
Definitions:
Pounds
A unit of currency used in the United Kingdom and other territories.
Comparative Advantage
An economic principle that refers to the ability of a party to produce a particular good or service at a lower opportunity cost than another.
Rice
A staple grain consumed worldwide, serving as a primary food source for a large portion of the global population.
Pounds
A unit of weight commonly used in the British imperial and United States customary systems, or the currency of the United Kingdom.
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