The difference between Y and Y Y prime is known as an a erro

The difference between Y and Y\' (Y prime) is known as an:

a) error in prediction

b) error of estimate

c) line of best fit

d) standard error of estimate

Solution

SOl) B is correct answer

The difference between Y and Y\' (Y prime) is known as an:

where Y is actual obsrvation and Y¹ is the fitted observation

Now error = (actual obsrvation - fitted observation)

               = Y - Y¹