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MarchelloO t1_jdrtj2k wrote

Reply to comment by diffraction-limited in [OC] Relation between the square meter price of an apartment and distance from Notre Dame de Paris in Paris and Ile-de-France by sudu1988

Hi. Why the residuals of that exponential fit is important to know ?

I am learning Data Analysis so I would like to know to improve myself. Thanks in advance for the answer .

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diffraction-limited t1_jdsez93 wrote

It's a visual check if there is still hidden data in your fit. If the residuals seem to be randomly distributed, it's a good first rough check that your model covers all the available data. Usually you find the residuals moving all in one, and then all in the other direction, looks a bit like a wave-y very noisy motion along the x axis.

There are more robust ways to check like Anderson darling if I'm not wrong, but the residuals are easily plotted and a good quick and dirty first check

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