APFIVE Properties of Regression Residuals
I. In any least squares regression, the sum of the residuals (the differences between observed and predicted values) is always $$0$$.
II. A positive residual indicates that the regression model overestimated the actual response value.
III. A negative residual indicates that the regression model overestimated the actual response value.
Which of the statements regarding residuals in regression analysis is/are true?
A
Only II is true.
B
II and III are true.
C
Only I is true.
D
I and III are true.
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