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Why do we take vertical deviations

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Reference no: EM13891584

(a) What is meant by the ordinary least-squares (OLS) method of estimating the ‘‘best'' straight line that fits the sample of XY observations?

(b) Why do we take vertical deviations?

(c) Why do we not simply take the sum of the deviations without squaring them?

(d) Why do we not take the sum of the absolute deviations?

Reference no: EM13891584

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