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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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Q: Why you call regression line as line of fit?
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Is the line of best fit the same as linear regression?

Linear Regression is a method to generate a "Line of Best fit" yes you can use it, but it depends on the data as to accuracy, standard deviation, etc. there are other types of regression like polynomial regression.

What is another name for line of best fit?

linear regression

What is the process of finding line of best fit called?

Finding the line of best fit is called linear regression.

What is the relationship between correlation coefficient and linear regreassion?

A correlation coefficient is a value between -1 and 1 that shows how close of a good fit the regression line is. For example a regular line has a correlation coefficient of 1. A regression is a best fit and therefore has a correlation coefficient close to one. the closer to one the more accurate the line is to a non regression line.

What characteristic makes regression line of best fit?

The equation of the regression line is calculated so as to minimise the sum of the squares of the vertical distances between the observations and the line. The regression line represents the relationship between the variables if (and only if) that relationship is linear. The equation of this line ensures that the overall discrepancy between the actual observations and the predictions from the regression are minimised and, in that respect, the line is the best that can be fitted to the data set. Other criteria for measuring the overall discrepancy will result in different lines of best fit.

What is the difference between correlation and regression?

correlation we can do to find the strength of the variables. but regression helps to fit the best line

What is the equation that shows the relationship among certain quantities?

The answer depends on the quantities and the nature of the relationship. It can be a line-of-best-fit (or regression line), or a formula.

A point that is always on the regression line?

(mean x, mean y) is always on the regression line.

Linear regression is a mathematical procedure that calculates a best fit line through the data It is called a best fit line because the parameters of the line will minimizes the sum of the squared?

It will minimise the sum of the squared distances from the points to the line of best fit, measured along the axis of the dependent variable.

What is a line of best fit?

A line of best fit is a technique used in statistics. It is a line that represents the relationship between data points showing two variables. It is "best" according to some user-specified criteria. The least squares regression line is the most popularly used line of best fit but it is not the only option.

Why are there two regression lines?

There are two regression lines if there are two variables - one line for the regression of the first variable on the second and another line for the regression of the second variable on the first. If there are n variables you can have n*(n-1) regression lines. With the least squares method, the first of two line focuses on the vertical distance between the points and the regression line whereas the second focuses on the horizontal distances.

Given a linear regression equation of equals 20 - 1.5x where will the point 3 15.5 fall with respect to the regression line?

on the lineGiven a linear regression equation of = 20 - 1.5x, where will the point (3, 15) fall with respect to the regression line?Below the line