Quiz 5-Exam Review

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What does the least squares method minimize?

Sum of Squared Error

The y-intercept (b0) represents the

predicted value of Y when X=0.

The residuals represent

the difference between the actual Y values and the predicted Y values.

The slope (b1) represents

the estimated average change in Y per unit change in X

The coefficient of determination (r2) tells you

the proportion of total variation that is explained.


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