When discussing the concept of covariance, the distance from a specific observation (i.e. data point) to that of the mean of a given variable is known as
A) Residual
B) Effect
C) Difference
D) Margin

Question

Quizplus · Accepted Answer

The distance from a specific observation to that of the mean of a given variable is known as the residual. Covariance measures the degree to which two variables vary together, and the calculation of covariance involves calculating the product of the deviations (or residuals) of the values from their respective means. Therefore, the correct answer is A) Residual.

When Discussing the Concept of Covariance, the Distance from a Specific