Asked by
Grace Durham
on Oct 11, 2024Verified
The least-squares regression method computes the regression line that minimizes the sum of the squared deviations from the plotted points to the line.
Least-squares Regression
A statistical method used to determine the best-fitting line through a set of points by minimizing the sum of the squares of the offsets.
Squared Deviations
The squared differences between each data point in a set and the mean of that set, used in statistical analysis to measure variance.
- Comprehend the theory and application of least-squares regression in minimizing inaccuracies and predicting cost trends.
Verified Answer
RS
Learning Objectives
- Comprehend the theory and application of least-squares regression in minimizing inaccuracies and predicting cost trends.
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