The Best-Fitting Line Is the One That Has the Smallest

question 18

True/False

The best-fitting line is the one that has the smallest total squared error,so the resulting line is commonly called the least-squared-error solution.

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Definitions:

Agency

A legal relationship in which one party, known as the agent, is authorized to act on behalf of another, known as the principal, in dealing with third parties.

Legal Entity

An organization or structure that is recognized by law as capable of legal rights and obligations, such as a corporation or partnership.

Aggregate

A total or sum, often used in contexts involving the collection of different items or amounts into a single whole.

Contracts

Legally binding agreements between two or more parties that are enforceable by law.