It is called the line of best fit because it tends to satisfy all the possible points in consideration at the same time with minimal variation.
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yes.
False.
A straight line equation
(a) Correlation coefficient is the geometric mean between the regression coefficients. (b) If one of the regression coefficients is greater than unity, the other must be less than unity. (c) Arithmetic mean of the regression coefficients is greater than the correlation coefficient r, provided r > 0. (d) Regression coefficients are independent of the changes of origin but not of scale.
line of best fit