What Is the Least Squares Method?
Imagine we have a set of data from observations or experiments consisting of pairs of values . If we plot these data points on a scatter diagram, we sometimes see a pattern or trend that resembles a straight line.
The question is, out of the many straight lines we could draw through these points, which is the best straight line that best represents the entire dataset?
The Least Squares Method is a mathematical procedure used to find one unique straight line that is considered the best fit for the set of data points.