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Statistics 101: Linear Regression, The Least Squares Method

This Statistics 101 video is the next in our series about Simple Linear Regression. In our last two videos, we talked about the very basics of regression and introduced other basic concepts like the algebra of lines and general patterns to look for on a scatter plot. In this video, we are going to learn about the fundamental concept of linear regression; the Least Squares Method. We will talk about how the Least Squares Method relates to previous concepts we have learned and then we will actually use the method to calculate the least-squares line or the regression line. This video will involve formulas and simple calculations. While you may not have to find a simple regression line by hand very often, it is not that difficult to do, and this video will at least show you how it is done so you understand the underlying mechanics. So if you are new to Regression or are still trying to figure out exactly what it even IS...this video is for you. So sit back, relax, and let's go ahead and get to work. My playlist table of contents, Video Companion Guide PDF documents, and file downloads can be found on my website: https://www.bcfoltz.com #statistics #regression #machinelearning