What is the meaning of a "residual" in a regression model? It defines the error between the predicted model output and the actual value. It is used to estimate the intercept for a simple linear regression model. It describes the percent of variability explained by the model in the sample data set. It is used in the F-test to determine the overall fit of a regression model. Which of the following is true of Overfitting? (Select All Answers that are Correct.) It is never an issue when using interaction terms in a regression model. It is caused by using overly complex terms or too many variables in a regression model. It results in a model fitting noise rather than just the signal from the data. To determine whether or not overfitting is occurring, it is recommended to split the data set into training and validation sets. True or False: When working with very large data sets, it becomes even more important to use the resulting p-values to determine whether or not variables are statistically significant. True O False