Solved: Explain the least squares method and least squares, Basic Statistics

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Explain the least squares method and least squares

Question: 1. Why is the random error term included in a regression model?

2. Explain the least squares method and least squares regression line. Why are they called by these names?

3. Explain the meaning and concept of SSE. You may use a graph for illustration purposes.

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Basic Statistics: Explain the least squares method and least squares

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Basic Statistics: Explain the least squares method and least squares

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