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The standard error is an estimate of the standard deviation of a statistic. This lesson shows how to compute the standard error, based on sample data.
In the regression output for Minitab statistical software, you can find S in the Summary of Model section, right next to R-squared. Both statistics provide an overall measure of how well the model fits the data. S is known both as the standard error of the regression and as the standard error of the estimate. S represents the average distance that the observed values fall from the regression line. Conveniently, it tells you how wrong the regression model is on average using the units of the response variable.