The difference between the predicted value and the actual value of a variable in a regression analysis is called:
A) absolute divergence.
B) estimation error.
C) standard error.
D) mean deviation.
E) variance.

Question

Quizplus · Accepted Answer

The difference between the predicted value and the actual value of a variable is the estimation error. This is the error that the model makes in predicting the outcome variable and is an important metric to consider when evaluating the accuracy of the model. The other answer choices are not correct because they refer to different concepts in statistics.

The Difference Between the Predicted Value and the Actual Value