7.1 Questions

Regression Method #1

1.   What does the value of the SSE represent? How is it useful to find the best-fit line?
2.   Explain what the equation of the line represents.
3.   How did the residual plots help to find the best-fit line? How should the residuals be distributed? Hint: Should there be any trends or patterns in the residuals?


Regression Method #2

1.   Why would you want to choose the point for a pivot point?
2.   How were the residuals used to find the best-fit line?