Final answer:
The line of best fit is the straight line that best represents the trend or relationship between the data points in a scatter plot. It is determined by minimizing the sum of the squared differences between the observed data points and the predicted values on the line. The least-squares line is valid for predicting the cost of a 300 oz. size of laundry detergent if the relationship between the variables is linear and the assumptions for linear regression are met.
Step-by-step explanation:
The question is asking about the line of best fit. The line of best fit is the straight line that best represents the trend or relationship between the data points in a scatter plot. It is determined by minimizing the sum of the squared differences between the observed data points and the predicted values on the line.
To determine if a line is the best way to fit the data, we can use various methods such as calculating the correlation coefficient or examining the scatter plot. For outliers, we can identify them if they are significantly different from the other data points and affect the overall trend of the data. The least-squares line, which is the line of best fit, is valid for predicting the cost of a 300 oz. size of laundry detergent if the relationship between the variables is linear and the assumptions for linear regression are met. The slope of the least-squares line represents the rate of change in the dependent variable (y) for a one-unit increase in the independent variable (x).