residual

Vocabulary Word

Definition

'Residual' is a term for what remains after the majority or the main part has been used, taken or done away with. It might refer to excess material, remaining tasks, or the leftover income after expenses.

Examples in Different Contexts

In business analytics, studying 'residuals' can unveil insights into model accuracy and reliability. A business analyst might assert, 'By analyzing residuals, we can detect model inadequacies and enhance the reliability of our business forecasts.'

Practice Scenarios

Creative

Scenario:

There's still something off about the acoustics of this recording. We might need to look into refining the sound quality.

Response:

True. Let's adjust the equalizer settings to eliminate any residual noise.

Business

Scenario:

After factoring in all the operation costs and any unforeseen expenditures, we will need to make careful use of our available funds.

Response:

Yes, I agree. Let's focus on optimizing our resources to maximize our residual income.