The most widely used method of estimating a regression line for a data set involves selecting the line
A) on which all data points will fall.
B) which minimizes the sum of the vertical distances between the line and the individual data points.
C) which minimizes the sum of the squared vertical distances between the line and the individual data points.
D) which minimizes the sum of the absolute value of the vertical distances between the line and the individual data points.

Question

Quizplus · Accepted Answer

The most widely used method of estimating a regression line for a data set is through the method of least squares. The line that minimizes the sum of the squared vertical distances between the line and the individual data points is known as the "least squares regression line" or simply the "regression line." This is because it provides the best overall fit to the data and ensures that the errors between the actual and predicted values of the response variable are minimized. Therefore, choice C is the best option.

The Most Widely Used Method of Estimating a Regression Line