2006-09-19 12:08:49 · 5 answers · asked by Lite 2 in Social Science ➔ Economics
In the context of regression equations, it the error term is the difference between the actual value of the independent variable and the value predicted by the regression equation. For ordinary least squares regressions, the error term is assumed to be normally distributed.
Y = B0 + B1X1 + B2X2 + ... + BnXn + e, where e is the error term.
2006-09-21 18:16:19 · answer #1 · answered by Marakey 3 · 2⤊ 0⤋
Statistics Error Term
2017-01-11 12:09:49 · answer #2 · answered by ? 4 · 0⤊ 0⤋
In basic statistics, the error term is the likelihood of making an incorrect assumption based on the test.
For example, if the test says two variables have a positive relationship, but error term is large, then this tells you how seriously you can take the result. If the error term is small, then it is reasonable to assume that your findings are correct.
2006-09-23 07:03:11 · answer #3 · answered by Jenn 2 · 0⤊ 0⤋
error in statistics means how much the sample value is different from the population value. e.g in your class the total number of students is 80 and their average weight is 60kg. you select 10 students and find that their average weight is 62kg. the error is 60-62 = -2. hope thats enough explaination but dont hesitate to give 10 points
2006-09-20 02:31:49 · answer #4 · answered by Yasir Saeed 2 · 0⤊ 1⤋
hi
it is difference between error term and residual
2015-10-08 03:20:21 · answer #5 · answered by Shahruz 1 · 0⤊ 0⤋