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Least Square Method Definition and Trend Line Fitting

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Least square method

Data & Analytics
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THE LEAST SQUARE METHOD
The least square method The least square method is the process of finding the best-fitting curve or line of best fit for a set of data points by reducing the sum of the squares of the offsets (residual part) of the points from the curve.
Least Square Method Definition The least-squares method is a crucial statistical method that is practised to find a regression line or a best-fit line for the given pattern.
a= Y / N b= XY / X2
Year 2007-08 2008-09 2009-10 2010-11 Sales of TV in lakh 12 18 20 23 2011-12 27
Fit a straight line trend by Least Square Method Year 2007 2008 2009 2010 2011 2012 Sales of AC 10 13 16 21 24 30
What will be Predicted sales for 2015
Least Square Method Definition and Trend Line Fitting

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Least Square Method Definition and Trend Line Fitting

  • 2. The least square method The least square method is the process of finding the best-fitting curve or line of best fit for a set of data points by reducing the sum of the squares of the offsets (residual part) of the points from the curve.
  • 3.
  • 4. Least Square Method Definition The least-squares method is a crucial statistical method that is practised to find a regression line or a best-fit line for the given pattern.
  • 5. a= Y / N b= XY / X2
  • 6.
  • 7. Year 2007-08 2008-09 2009-10 2010-11 Sales of TV in lakh 12 18 20 23 2011-12 27
  • 8.
  • 9. Fit a straight line trend by Least Square Method Year 2007 2008 2009 2010 2011 2012 Sales of AC 10 13 16 21 24 30
  • 10.
  • 11. What will be Predicted sales for 2015