Least squares estimates are the estimates that correspond to the smallest sum of the squared distances, or errors.

Name: Least squares estimates are the estimates that correspond to the smallest sum of the squared distances, or errors.
Brand: Quizplus
Rating: 4.9 (41 reviews)

Question

Quizplus · Accepted Answer

Least squares estimates are indeed the estimates that minimize the sum of the squared differences between the observed values and the values predicted by the model. This method is widely used in linear regression to find the best-fitting line through a set of points.

Least Squares Estimates Are the Estimates That Correspond to the Smallest