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Compute the Sum of Squared Residuals
-The regression line for the given data is . Determine the residual of a data point for which and .
Dummy Variable
A binary variable used in regression models to represent categorical data by encoding categories as 0 or 1.
Indicator Variable
A variable that takes the value of 1 if a certain condition is true and 0 if it is not.
Dependent Variable
The variable in an experiment or study that is expected to change in response to changes in the independent variable.
Stepwise Regression
A method of fitting regression models in which predictors are added or removed based on specific criteria, such as their statistical significance.
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