Examlex
Two persons with significantly different income can have equal average propensities to consume because of differences in their standards of living.
Least Squares Regression Line
A straight line that minimizes the sum of the squared differences between the observed values and the values predicted by the line.
Estimated Value
An approximation of a quantity based on available information or statistical methods.
Observations
Individual data points or items recorded during an experiment or survey.
Least Squares Regression Line
A statistical method used to find a straight line that best fits a set of data points by minimizing the sum of the squares of the vertical distances of the points from the line.
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