What is the standard error of estimate, and what role does it ...

[meagbuch]

What is the standard error of estimate, and what role does it play in simple linear regression and correlation analysis?

Question 2

Is it possible for the standard error of the estimate to be equal to zero? If so, under what circumstances?

[shaquita]

Answer to Question 1

The standard error of the estimate is a measure which describes the dispersion of the data points above and below the regression line. The standard error may be used as a measure of how well the regression line fits the data. In addition, the standard error is used in calculating confidence intervals for the mean value of y given a specific value of x, and in calculating the prediction interval for an individual y observation.

Answer to Question 2

The standard error of the estimate will be zero only when every data point falls on the regression line, that is, when the sum of the squared residual terms is also zero.

[meagbuch]

Great answer, keep it coming

[bblaney]

Thanks for the timely response, appreciate it