Which of the following best describes the least squares criterion?
A)it identifies the best fitting line as the line that minimizes the sum of the squared vertical distances of points from the line
B)the best fitting line minimizes the sum of the horizontal distances from the line
C)it minimizes the sum of the absolute distances from the line
D)it is a measure of the goodness of fit of the estimated regression equation
E)none of the above

Question

Quizplus · Accepted Answer

The least squares criterion identifies the best fitting line by minimizing the sum of the squared vertical distances of the points from the line. This method is widely used in linear regression to estimate the parameters of the line.

Which of the Following Best Describes the Least Squares Criterion