Definition of Standardized Residual:
The standardized residual is the residual divided by its standard deviation.
How to compute standardized residual:
- Calculate the mean of residuals [r(1), r(2)……r(n)]
- Calculate the standard deviation of residuals Standardized residuals can be calculatas follows:
Standardized Residual (i) = Residual (i) / Standard Deviation of Residuals
Standardized residuals will have mean = 0 and standard deviation = 1
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