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The presence of a predictable pattern in the residuals indicates that the regression model estimated is...

The presence of a predictable pattern in the residuals indicates that the regression model estimated is correct. True or false

Math   Statistics-And-Probability   
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Answer #1

The correct answer is FALSE. [ANSWER]

Explanation:

To check for the goodness of fit of a regression model, we plot the residuals after fitting the model. For an estimated regression model to be a good fit, one of the requirements is that the residuls do not follow a pattern (i.e. they are patternless). If they follow a predictable pattern, it means that the regression model is not correct.

Thus, the statement "The presence of a predictable pattern in the residuals indicates that the regression model estimated is correct" is FALSE.

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