The simple linear regression model (Y=β0+β1X+ε) includes a random variable ε representing the residual which follows a Normal Distribution with an expected v...The simple linear regression model (Y=β0+β1X+ε) includes a random variable ε representing the residual which follows a Normal Distribution with an expected value of 0 and a standard deviation σ which is independent of the value of X. The estimate of σ is called the sample standard error of the residuals and is represented by the symbol se.
