Examlex
Describe the primary labor market.
Least Squares Estimate
A method in regression analysis to estimate the coefficients by minimizing the sum of the squared residuals.
Population Slope
It refers to the slope of the line that best fits the entire population data in a regression model, representing the average change in the dependent variable for a one-unit change in the independent variable.
Sum Of Squared Residuals
The total value obtained by squaring each of the residuals (differences between observed and predicted values) and summing them all, commonly used in regression analysis.
Coefficient Of Determination
A measure, often represented as R^2, that indicates the proportion of the variance in the dependent variable predictable from the independent variable(s).
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