Concept information
Preferred term
ordinary least squares
Definition
- Consider a linear relationship in which there is a stochastic dependent variable with values yi that are a function of the values of one or more nonstochastic independent variables, x1i, x2i…xki. We could write such a relationship as yi = β0 + β1x1i +···+ βkxki + εi. [Source: The SAGE Encyclopedia of Social Science Research Methods; ORDINARY LEAST SQUARES (OLS)]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/ordinary_least_squares
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