What does a residual value of 1.3 mean when referring to the line of best fit of a data set?

A residual is the observed value minus the value predicted by the line of best fit. A positive residual of 1.3 means the data point’s observed value is 1.3 units greater than the line’s predicted value, so the point lies 1.3 units above the line. The residual does not describe the line’s slope.

AI-written and checked against the verified answer.