The least squares method refers to:
A)A computation in linear regression
B)Selecting participants for the Delphi Technique
C)Time series decomposition into smaller and smaller units
D)Determining the smallest sources of error in a forecast
E)Calculating the running sum of forecast errors

Question

Quizplus · Accepted Answer

The least squares method is a statistical procedure used in linear regression to find the line of best fit that minimizes the sum of the squares of the residuals (the difference between the predicted values and the actual values). It is a common method for modeling relationships between variables and predicting outcomes.

The Least Squares Method Refers To