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Collinear lines lie on the same straight line.
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.
It is a Geometry Theorem. "A line and a point not on the line lie in exactly one place" means what it says.
The same line.
Given three vertices, the two that are the furthest apart lie at the ends of a diagonal. Reflect the square in this diagonal. The third vertex will be where the missing vertex should be.