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The Ordinary Least Squares (OLS) technique has several advantages: it generates estimators with the smallest sum of squared errors, identifying a good fit; it uses calculus optimization for more accurate estimates; and the estimators are unique and enjoy desirable numerical properties. OLS estimators have properties such as being easily computed using only observable quantities, being point estimators of population parameters, and causing the sample regression line to pass through the sample means of Y and
- Author
- Giri Prasad
- Language
- EN