![]() ![]() This is the main use of least squares regression, especially in business contexts estimating the gross national product of some new country for which the other three variables are known ( value prediction).These can then be used for one or both of the following: Least Squares Regression is a method to use training data to determine the optimal weightings to use with the three factors. ![]() It works by finding the optimal set of coefficients with which to multiply together each predictor variable to obtain an estimation of the dependent variable.įor example, let us presume that the gross national product of a country depends on the size of its population, the mean number of years spent in education and the unemployment rate. Least Squares Regression is used to model the effect of 1…n predictor variables on a dependent variable.
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