The process of solving for the slope and intercept that minimize the sum of squared residuals is a process known as:
A) least absolute deviations.
B) mode estimation.
C) mean squared error.
D) ordinary least squares.

Question

Quizplus · Accepted Answer

The process of solving for the slope and intercept that minimize the sum of squared residuals is known as ordinary least squares. Choice A is incorrect because least absolute deviations is a different method for estimating relationships between variables. Choice B is incorrect because mode estimation is not a method for estimating relationships between variables. Choice C is incorrect because mean squared error is a different concept that measures the average squared difference between the estimated values and the actual values.

The Process of Solving for the Slope and Intercept That