Question

what is the regression technique of ordinary least squares?

Answer 1

Solution:

Ordinary least squares (OLS) regression is term used in the regression analysis we apply the OLS on data and analies the given data

Ordinary least squares (OLS) regression is a statistical method of analysis that estimates the relationship between one or more independent variables and a dependent variable.

in general we take independent variables as X and dependent variable. as Y because values of the Y variable is dependent on the X hence X is independent.

e.g we have to predict student score for next semester the we take independent variable marks in previous semester, attendance ,...etc and dependent variable as score in next semester.

The method estimates the relationship by minimizing the sum of the squares in the difference between the observed and predicted values ( i.e. sum of residuals ) of the dependent variable configured as a straight line; this line is called as regression line In this entry.

However, the logic of OLS regression is easily extended to the multivariate model in which there are two or more independent variables.(X1,X2, ... etc)

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