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Sat 25 May, 2013 03:16 pm
If we know the equation of the regression line and correlation, how would know that residual is positive or negative ?
@Msluzie,
Ask it if the glass is half full or half empty.
@Msluzie,
For an individual point, you compare the computed Y value from the regression equation and compare it to the actual to see if the residual for that point is positive or negative. The sum of all the residuals should be zero by definition.