Question

A procedure for using sample data to find the estimated regression equation is _____. Group of answer choices point estimation interval estimation the least squares method extrapolation

Answer 1

c. the least squares method.

Regression equation:

In simple linear regression, the predicted value of the dependent variable is given by the equation = b0 + b1x. The values of b0 and b1 are calculated from the data so that the line = b0 + b1X minimizes the total sum of squared errors (error is the difference between the predicted value and the actual value of y).

Least squares method:

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.

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