What is a least squares error of the approximation?
least squares method, also called least squares approximation, in statistics, a method for estimating the true value of some quantity based on a consideration of errors in observations or measurements.
What is the least squares method example?
Least Square Method Examples
Example 1: Consider the set of points: (1, 1), (-2,-1), and (3, 2). Plot these points and the least-squares regression line in the same graph. Now, find the value of m, using the formula. Therefore, the equation of regression line is y = 23/38x + 5/19.