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The residual is the difference between the observed value and the estimated value of the quantity of interest (for example, a sample mean). The distinction is most important in regression analysis , where the concepts are sometimes called the regression errors and regression residuals and where they lead to the concept of studentized residuals .
An example of residual risk is given by the use of automotive seat-belts. Installation and use of seat-belts reduces the overall severity and probability of injury in an automotive accident; [2] however, probability of injury remains when in use, that is, a remainder of residual risk.
the residual can either be the function ... or some integral of a function of the difference, for example:
Residual in the bankruptcy of insolvent businesses, moneys that are left after all assets are sold and all creditors paid, to be divided among residual claimants Residual (or balloon) in finance, a lump sum owed to the financier at the end of a loan's term; for example Balloon payment mortgage
What is residual income? Residual income is the money left over after you pay your bills (house payments, utilities, loans, credit cards, etc.). There are a few different ways to build residual ...
These deviations are called residuals when the calculations are performed over the data sample that was used for estimation (and are therefore always in reference to an estimate) and are called errors (or prediction errors) when computed out-of-sample (aka on the full set, referencing a true value rather than an estimate). The RMSD serves to ...
The general regression model with n observations and k explanators, the first of which is a constant unit vector whose coefficient is the regression intercept, is = + where y is an n × 1 vector of dependent variable observations, each column of the n × k matrix X is a vector of observations on one of the k explanators, is a k × 1 vector of true coefficients, and e is an n× 1 vector of the ...
In fact, the more prominent the actor, the more generous the residual. Big stars like Tom Cruise, for example, would get a portion of DVD sales in addition to his "regular" residuals. [12] All "credited" writers are eligible for residuals, and the specific credit determines the amount of residual.