The Residual $r _ { i }$ Is Defined as the Difference Between the Actual Value

question 64

True/False

The residual $r _ { i }$ is defined as the difference between the actual value $y _ { i }$ and the estimated value $\hat { y } _ { i }$ .

---

Definitions:

Occupational Prestige

The subjective evaluation people give to jobs as better or worse than others.

Subjective Evaluations

Assessments based on personal opinions, feelings, or tastes, rather than objective measurements.

Socioeconomic Status

A measure of class standing, typically indicated by income, occupational prestige, and educational attainment.

Model Minority

The model minority is a stereotype that presents a particular ethnic group as having higher socioeconomic success than the average, potentially masking underlying challenges.