The standard error of the estimate of a linear regression is not useful for judging the fit between the data and the regression line when doing forecasts.

Question

Quizplus · Accepted Answer

The standard error of the estimate in a linear regression is actually useful for judging the fit between the data and the regression line, as it measures the average distance that the observed values fall from the regression line, thereby providing insight into the accuracy of the predictions made by the model.

The Standard Error of the Estimate of a Linear Regression