A residual plot is a graphical representation that shows the residuals on the vertical axis and the independent variable on the horizontal axis, helping to assess the fit of a regression model. It is a crucial tool in regression analysis that allows researchers to visualize how well the model captures the relationship between variables, indicating whether the assumptions of linearity, homoscedasticity, and independence of errors are met. By analyzing the pattern of the residuals, one can identify any systematic deviations from the expected outcomes.
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