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When events occur at discrete points in time
Error Variable
A random variable signifying the discrepancy between the forecasted value and the true observed value in statistical analysis.
Regression Equation
A formula derived from regression analysis that predicts the dependent variable based on one or more independent variables.
Predicted Values
The outcomes forecasted by a statistical model, which represent the model's estimation of the dependent variable based on independent variable(s).
Standardized Residuals
Residuals normalized to have a mean of zero and a standard deviation of one, used in regression analysis to identify outliers.
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