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The residual in a multiple regression model represents the difference between the forecast result for a...

The residual in a multiple regression model represents the difference between the forecast result for a specific value of the independent variable and the actual result for that specific values. It is the difference between what would have been forecast using the regression equation and the actual result.

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Answer #1

residual = actual value - forecast value

so, The residual in a multiple regression model represents the difference between the forecast result for a specific value of the independent variable and the actual result for that specific values. It is the difference between what would have been forecast using the regression equation and the actual result.  

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