By ABS To measure the spread of a dataset we use standard deviation (sd). A higher standard deviation means numbers are more spread out in the data set while a low standard deviation indicates closer to the mean. Two types – The greek letter sigma σ indicates population standard deviation and “s” denotes sample standard deviation. Formula …
By ABS Mean is the average of a data set. It is one of the most common methods to identify the central position. To calculate the Mean, Need to sum of all the values in the data set. Divide the sum by the number of values in the data set. Formula of Mean Here, The lower-case Greek …
By ABS Residual is the vertical distance between the observed actual value (dependent variable) and the predicted value (generated by regression equation). Formula to calculate Residual e = y – ŷ Here,e = Residualy = Observed Actual valueŷ = Predicted value 1) Observed Value (y) higher than the Predicted value (ŷ) – Positive Residual 2) Predicted value …
