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REGRESSION ANALYSIS QUESTIONS1 What is a residual?2 The least squares regression line is obtained by:A minimizing the residuals minimizing the sum of the residuals minimizing the sum of the squares
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How to fill out form least squares regression

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Gather data points for the independent variable (X) and dependent variable (Y).
02
Calculate the mean of both X and Y values.
03
Calculate the slope (m) using the formula: m = Σ((X - X mean) * (Y - Y mean)) / Σ(X - X mean)^2
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Calculate the y-intercept (b) using the formula: b = Y mean - (m * X mean)
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The equation of the best-fit line is Y = mX + b.

Who needs form least squares regression?

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Researchers in fields such as statistics, economics, and social sciences who need to analyze the relationship between two variables.
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Students studying regression analysis in their coursework.

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Least squares regression is a statistical method used to determine the relationship between variables by minimizing the sum of the squares of the differences between observed and predicted values.
Typically, researchers and analysts who wish to report on their statistical modeling findings related to datasets may use least squares regression and present it in their reports or publications.
To apply least squares regression, one must collect data, choose a model to fit (e.g., linear), use statistical software to calculate the parameters, and present the output including coefficients, R-squared values, and residuals.
The purpose is to identify the best-fitting line or model for data, helping to understand relationships between variables and make predictions.
Information such as the coefficients of the regression equation, R-squared values, p-values for hypothesis testing, and residual analysis should be reported.
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