For a given data set of (x,y)values,an infinite number of possible regression equations can be fitted to the corresponding scatter diagram,and each equation will have a unique combination of values for the y-intercept b₀ and the slope b₁.However,only one equation will be the "best fit" as defined by the least-squares criterion.

Question

Quizplus · Accepted Answer

This statement is true. The least-squares criterion is used to determine the best fit regression line by minimizing the sum of the squared differences between the observed values and the predicted values. While there may be infinite possible regression equations that could fit a given data set, only one equation will be the best fit according to this criterion.

For a Given Data Set of (X,y)values,an Infinite Number of Possible