STATISTICAL TECHNIQUES AND TOOLS
REGRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The line that minimizes the squares of the horizontal distances between the data points and the line.
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The line that minimizes the squares of the vertical distances between the data points and the line.
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The line that minimizes the vertical distances between the data points and the line.
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The line that passes through the most number of data points.
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Detailed explanation-1: -A least squares regression line represents the relationship between variables in a scatterplot. The procedure fits the line to the data points in a way that minimizes the sum of the squared vertical distances between the line and the points. It is also known as a line of best fit or a trend line.
Detailed explanation-2: -The Least Squares Regression Line is the line that makes the vertical distance from the data points to the regression line as small as possible. It’s called a “least squares” because the best line of fit is one that minimizes the variance (the sum of squares of the errors).
Detailed explanation-3: -Since the least squares line minimizes the squared distances between the line and our points, we can think of this line as the one that best fits our data. This is why the least squares line is also known as the line of best fit.