Residual plots can be used to validate assumptions about the regression model. Figure 1: Residual plots are helpful in assessments of nonlinear trends and heteroscedasticity. A formal test of lack of ...

What are standardized residuals? How do I calculate it? How do I use it and interpret it? What are its benefits? The answers to these questions and more can be found below. Before you can understand ...

Residual plots and diagnostic techniques are important tools for examining the fit of a regression model. In the case of least squares fits, plots of residuals provide a visual assessment of the ...

So, you want to know how to create a scatter plot in Excel. Chances are, you probably already know what the term means, but given Microsoft Excel’s arsenal of options packed into each tab, getting ...