The Least Squares Method Minimizes The

question 66

Multiple Choice

The least squares method minimizes the:

• A)difference between the y and x values
• B)sum of the errors
• C)sum of the squares of errors
• D)sum of the y values

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Definitions:

Economic Growth

An increase in the production of economic goods and services, compared from one period of time to another, often measured by GDP.

Productivity Growth

An increase in the efficiency of production, often measured as the ratio of output to inputs over a specified period.

U.S. Economy Sector

It refers to the major segments of the U.S. economy such as agriculture, manufacturing, and services that contribute to the country's GDP.

20th Century

The period from January 1, 1901, to December 31, 2000, known for vast social, political, and technological changes globally.