How do you calculate the residuals of a scatter plot?

You take the X value and plug into the residual equation and find the estimated Y.

If the you have the points (20, 4) with the linear regression equation being y=0.138x+1.074, you would plug in X with 20 and solve. This means Y is 3.834. Then you subtract 4-3.834. This means the residual is 0.166. You would have to do this with all of the points on a scatterplot.

the square root of what number? if you add that, then someone will probably answer the question.

step-by-step explanation:

let's assume

number of candles set =x

price of of x candles =p(x)

we are given

a candle maker prices one set of scented candles at $10 and sells an average of 200 sets each week

so, we get point as (200,10)

he finds that when he reduces the price by $1, he then sells 50 more candle sets each week

so, we can find slope

now, we can use point slope form of line

now, we can plug values

we can use point

and find b

now, we can plug it back

and we get

now, we can find revenue

we know that

revenue = price*quantity

so, we get