What is the purpose of residual analysis in linear regression?(1 Point)a) To calculate the R-squared value.b) To determine the best-fit line.c) To assess the model's assumptions and identify potential problems.d) To find the p-values for the coefficients.

What is the primary purpose of using a residual plot in regression analysis?To visualize the correlation coefficient.To check for homoscedasticity and linearity.To determine the slope of the regression line.To classify data points

17.Question 17What does a residual plot help you determine?1 pointIt’s a visual way to see if there is a pattern in your data set.It’s a visual way to see if your coefficients of determination are accurate.It’s a visual way to see if your model needs more input variables.It’s a visual way to see if a linear plot is appropriate.

What does the term 'residual' mean in linear regression?Review LaterDifference between an observed value and its corresponding predicted valueThe slope of the regression lineA variable that is not included in the modelThe intercept of the regression line

1. When do we use Linear Regression? What is Linear regression. Explain it in Layman terms2. What are the assumptions of Linear regression?3. What is difference between R square and Adjusted R square?4. What if Data is not normally distributed ?5. How is best fit line selected in Linear regression?6. Hypothesis testing in context of Linear regression

Select all correct statements of residuals for a simple linear regression model.Question 3AnswerSelect one or more:a.The sum of squared residuals is a minimum.b.The sum of the weighted residuals is zero when the residual in the th trial is weighted by the th response .c.Residuals have constant variance.d.Residuals are correlated.