Ordinary least squares

（重定向自Ordinary least square）

Okun's law in macroeconomics states that in an economy the GDP growth should depend linearly on the changes in the unemployment rate. Here the ordinary least squares method is used to construct the regression line describing this law.

OLS estimation can be viewed as a projection onto the linear space spanned by the regressors.

Scatterplot of the data; the relationship is slightly curved but close to linear.

In statistics, ordinary least squares (OLS) or linear least squares is a method for estimating the unknown parameters in a linear regression model, with the goal of minimizing the differences between the observed responses in some arbitrary dataset and the responses predicted by the linear approximation of the data (visually this is seen as the sum of the vertical distances between each data point in the set and the corresponding point on the regression line - the smaller the differences, the better the model fits the data). The resulting estimator can be expressed by a simple formula, especially in the case of a single regressor on the right-hand side.

单词	Ordinary least square
释义	Ordinary least square 英语百科 Ordinary least squares （重定向自Ordinary least square） In statistics, ordinary least squares (OLS) or linear least squares is a method for estimating the unknown parameters in a linear regression model, with the goal of minimizing the differences between the observed responses in some arbitrary dataset and the responses predicted by the linear approximation of the data (visually this is seen as the sum of the vertical distances between each data point in the set and the corresponding point on the regression line - the smaller the differences, the better the model fits the data). The resulting estimator can be expressed by a simple formula, especially in the case of a single regressor on the right-hand side.
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