4.3 Diagnostics on the Least squares regression line

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4 Terms

1
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coefficient of determination, 𝑹𝟐

gives us an idea of how many observed 𝑦 values can be predicted (estimated) by regression

equation.

2
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residual plot

scatter diagram with the residuals on the vertical axis and the explanatory variable on the

horizontal axis.

3
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constant error variance (or homoscedasticity)

if the variance of the residual in a

regression model is constant.

4
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influential observation

an observation that significantly affects the least–squares regression line’s slope

and/or y –intercept