Application (Cont.). A recent paper of mine looks at the relationship between retirement savings at age 30 and student loan debt at age 25.  Four observations from the data are below. All numbers are being expressed in thousands of dollars (e.g., 30 means $30 thousand).

ID	Retirement Savings, Age 30	Student Loan Debt, Age 25
1	25	22
2	45	15
3	24	18
4	18	27

You decide to run a regression with retirement savings as the dependent variable and student loan debt as the independent variable.  The coefficient on student loan debt is -1.88 and the constant is 66.72. What is the residual for person number 2 expressed to the nearest 2 decimals? If negative, you must include a negative sign.

Answer rating: 100% (QA)

Sure Residual for person number 2 ... View the full answer