The Least Squares Line Is the Line That Minimizes the Sum

question 57

True/False

The least squares line is the line that minimizes the sum of the residuals.

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Definitions:

Internal Factors

Internal factors refer to the inner strengths and weaknesses that affect a company's or individual's ability to achieve its objectives.

External Factors

Conditions and forces outside the organization that affect its performance, including economic, social, political, and technological influences.

Attribution Error

A cognitive bias in which an individual incorrectly attributes the behaviors of others to inherent personality traits rather than external situations.

Consensus

A general agreement or collective unanimity among a group of people, especially in decision-making processes.