Residual

Adjective: Relating to or denoting something that remains after a part has been removed or taken away; often used in various fields including mathematics, finance, and science to refer to the leftover or remaining amount. Noun: In statistics and analysis, a Residual is the difference between observed and predicted values.

Residual meaning with examples

• In ecology, Residual nutrients in soil can significantly affect plant growth. After major agricultural activity, it’s essential to measure these remnants to assess soil health and decide on appropriate farming practices.
• When conducting a regression analysis, it’s crucial to analyze the residuals. The Residual values can provide insights into the model's accuracy and help identify patterns that may not have been accounted for.
• In finance, Residual income refers to the amount of income left after deducting the cost of capital. It serves as an important metric for assessing the profitability and performance of investments.
• After a fire, Residual smoke particles can linger in a building, affecting air quality and safety. Professional cleaning is often necessary to eliminate these hazardous remnants.
• The company's Residual assets consisted mainly of unsold inventory and outdated equipment. Evaluating these remaining assets helped in strategizing for eventual liquidation and financial recovery efforts.