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Which of the following statements is/are true concerning residuals?

I. The sum of the residuals must be equal to zero.

II. The average of the residuals must be equal to zero.

III. Residuals represent the horizontal distance between the observation and the prediction from the least squares regression line.

A

I only.

B

I and II only.

C

I, II, and III.

D

II and III only.

E

I and III.

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