What does a residual value of negative 0 point 8 mean in reference to the line of best fit?

A residual is calculated as the observed value minus the value predicted by the line of best fit. A residual of −0.8 means the observed point is 0.8 units lower than the line’s predicted value, so it is 0.8 units below the line of best fit. The negative sign indicates the point is below the line.

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