Residual Standard Deviation

A Residual Standard Deviation is a goodness-of-fit measure that ...

• AKA: RESSD.
• See: RMSE.

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References

2015

• http://www.investopedia.com/terms/r/residual-standard-deviation.asp
  • QUOTE: The residual standard deviation is a statistical term used to describe the standard deviation of points formed around a linear function, and is an estimate of the accuracy of the dependent variable being measured.

     Residual standard deviation is also referred to as the standard deviation of points around a fitted line.

2013

• http://www.itl.nist.gov/div898/handbook/eda/section3/linressd.htm
  • QUOTE: ... residual standard deviation (RESSD) ... The residual standard deviation is a goodness-of-fit measure. That is, the smaller the residual standard deviation, the closer is the fit to the data.

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