Statistics Standard Error of the Regression Analysis

Document Type:Coursework

Subject Area:Statistics

Document 1

However, standard error of the regression analysis (S) also known as the standard error of the estimate shows how well the model fits the data to be interpreted or analysed. The S indicates the absolute distance that the data points fall from the regression line on average. As shown in the graph below S values are better when they are small since it shows that the observed points are nearer to the fitted line (Carter 12-34). Analyzing data using the standard error of the regression is more advantageous compared the R-squared that is also used for the same purpose (Carter 12-34). The S tells you how accurate and exact the model forecasts are using the units of the response variable that is the Y- variable.

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