STATISTICAL TECHNIQUES AND TOOLS
REGRESSION
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The method of least square regression is used to ____ the residuals.
|
|
minimise
|
|
|
maximise
|
|
|
optimise
|
|
|
None of the above.
|
Explanation:
Detailed explanation-1: -The least squares method is a statistical procedure to find the best fit for a set of data points by minimizing the sum of the offsets or residuals of points from the plotted curve. Least squares regression is used to predict the behavior of dependent variables.
Detailed explanation-2: -Least square is an estimating method by minimizing the sum of squares of vertical distances. Residual, a quantitative measurement, is the vertical distance between the observed and the estimated using estimated parameters.
Detailed explanation-3: -This method, the method of least squares, finds values of the intercept and slope coefficient that minimize the sum of the squared errors.
There is 1 question to complete.