Learn More About Standard Error Of An Estimate

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Hi, I have been having difficulty understanding the term Standard Error of an Estimate. Please help me understand in simple words. Please reply ASAP. Thanks in advance.

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Answered By 20 points N/A #332045

Learn More About Standard Error Of An Estimate

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Hi, the term Standard Error of an Estimate is simple to understand. It means the variation of observation around a regression line. To sum up, it measures the distance of each data point to the regression line. It gives a measure of the efficiency of the Statistic allowing us to improve our measurements.

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