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random error

Sean Woo's Real Estate DictionarySean Woo's Real Estate Dictionary
also as disturbance, residual, error term, error; it denotes the difference between the actual value of y and the predicted value of y for population data(E) or for sample data(e).
Note1: It is a random(stochastic) variable that has well-defined probabilistic properties.
Note2: it may well represent all those factors that affect dependent variable but are not taken into account explicitly.

see random short-range variation in spatial context;
see probabilistic model for numerical definition

 

Sean Woo's Real Estate Dictionary INDEX:

List of Terms: Terms beginning with "A", Page 1

A B C D E F G H I J K L M N O P Q R S T U V W Z
1 2 3 4

A: Page 1 of 4.

accessibility varia...accounting liquidit...accounting value
accounts payable
accounts receivable
accrued expenses
accrued taxes
accrued wages
acquisition
activity-based cost...

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