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Least Squares Line
A straight line that minimizes the sum of the squares of the differences between the observed and predicted values.
Coefficient Of Determination
A statistical measure, often symbolized as R^2, that represents the proportion of the variance in the dependent variable predictable from the independent variable(s).
Correlation Coefficient
A measure that determines the degree to which two variables' movements are associated, ranging from -1 (perfect negative correlation) to +1 (perfect positive correlation).
Prediction Interval
An estimate of an interval in which future observations will fall, with a certain degree of confidence, based on a predictive model.
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