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Why does best fit line does not touch all data points?
Because the "best fit" line is usually required to be a straight line, but the data points are not all on one straight line. (If they were, then the best-fit line would be a real no-brainer.)
What does a line of best fit allow you to do?
A line of best fit allows one to track the trend in their data. It is particularly helpful when one's data is scattered.
What is a best-fit-line?
A best-fit line is the straight line which most accurately represents a set of data/points. It is defined as the line that is the smallest average distance from the data/points. Refer to the related links for an illustration of a best fit line.
What is a straight line that best fits the data on the coordinate plane?
The straight line that best fits the data on a coordinate plane is the Line Of Best Fit.
In a data plot most of the data points will lie below the line of best fit?
If most of them lie below the line, then that line isn't the best fit. The exact layout depends on what definition you use for "best fit", but any definition will produce a line that has roughly the same number of data points on each side of it.
