![]() ![]() ![]() ![]() The actual value of the dependent variable: In mathematical language, we look for α and β that satisfy the following criteria: the vertical difference between the data point and the fitting line). It estimates the unknown parameters of the regression equation by minimizing the sum of squared residuals (i.e. The ordinary least squares is a statistical method used in linear regression analysis to find the best fitting line for the data points. It is the difference between the actual Y and the fitted Y (i.e. β is the intercept indicating the Y value when X is equal to 0
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