What is the main concept of Ordinary Least Square (OLS) technique of forecasting
ID: 2726241 • Letter: W
Question
What is the main concept of Ordinary Least Square (OLS) technique of forecasting?
It estimates the parameters of a line which minimizes the sum of squared errors.
It estimates the parameters of a line which minimizes the t-statistics of coefficients.
It estimates the parameters of a line which maximizes the sum of squared errors.
It estimates the parameters of a line which minimizes the value of R-square.
It estimates the parameters of a line which minimizes the sum of squared errors.
It estimates the parameters of a line which minimizes the t-statistics of coefficients.
It estimates the parameters of a line which maximizes the sum of squared errors.
It estimates the parameters of a line which minimizes the value of R-square.
Explanation / Answer
Main concept of Ordinary Least Square (OLS) technique of forecasting
A) It estimates the parameters of a line which minimizes the sum of squared errors
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