Plot the Residuals Against the Predicted Values

question 17

Essay

Plot the residuals against the predicted values .

---

Definitions:

Disposable Income

The amount of money that households have available for spending and saving after income taxes have been accounted for.

Poverty Line

A threshold set by governments to define the minimum income level necessary to afford basic necessities, delineating who is considered to be in poverty.

Political Conservatives

Individuals or groups who advocate for maintaining traditional institutions, values, and practices, often emphasizing limited government, personal responsibility, and free-market economy.

Welfare State

A government system that provides social and economic support to its citizens, such as healthcare, education, and social security.