Question

The objective of the ____ method is to make the sum of the squared deviations between...

The objective of the ____ method is to make the sum of the squared deviations between the actual and predicted values of the dependent variable as small as possible.

The standard ____ of the estimate tries to gauge how much the predicted values differ from the actual values.

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Answer #1

The objective of the Least Square Error method is to make the sum of the squared deviations between the actual and predicted values of the dependent variable as small as possible.

The standard Error of the estimate tries to gauge how much the predicted values differ from the actual values.

Explanation

  • Least square error is the method which minimizes the error i.e square of difference between observed and predicted value obtained by a hypothetical equation , and then choose the parameters such that it have minimum error
  • standard error give the average distance between the observed value and predicted value
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