A line of best fit, or regression line, can be used to predict outcomes for variables in a data set using the least-squares regression method.
A line of best fit, also known as a regression line, is used to predict outcomes for variables in a given data set.
It is typically found using the least-squares regression method, which creates a uniform line.
Residuals, or errors, measure the distance between the actual and estimated values of the dependent variable.
The sum of squared errors, when minimized, helps determine the points on the line of best fit.
Regression lines can be used to predict values within the data set but should not be used to make predictions for values outside the set.