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Ashwag
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Hi,

I have question regarding to residual  vs error term,  a‌‌re they different or can be use it interchangeably

Thanks‌‌

NEAS
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Ashwag - 3/5/2018 6:08:15 PM
Hi,

I have question regarding to residual  vs error term,  a‌‌re they different or can be use it interchangeably

Thanks‌‌


They are not the same.

●    The residual is the observed value minus the fitted value; it depends on the sample values.
●    The error term is the random variable ε in the true regression equation.


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