How is the slope of the line of best fit calculated using the least squares method?Select one:a.By dividing the sum of the y values by the sum of the x valuesb.By dividing the sum of the product of the x values and the y values by the sum of the squares of the x valuesc.By dividing the sum of the product of the x values and the y values by the sum of the x valuesd.By dividing the sum of the y values by the sum of the squares of the x values

How is the y-intercept of the line of best fit calculated using the least squares method?Select one:a.By dividing the mean of the y values by the slopeb.By subtracting the slope from the mean of the y valuesc.By dividing the sum of the product of the x values and the y values by the sum of the x valuesd.By dividing the sum of the y values by the number of data points

What does the least squares method aim to minimize?Select one:a.The sum of the squares of the errors between the data points and the line of best fitb.The mean of the data setc.The sum of the absolute values of the errors between the data points and the line of best fitd.The variance of the data set

The following data is used to apply a linear regression algorithm with leastsquares regression line Y=a1X. Then, the approximate value of a1 is given by:(X-Independent variable, Y-Dependent variable)X 1 20 30 40Y 1 400 800 1300a. 27.876b. 32.650c. 40.541d. 28.956

The method of least squares calculates square of deviations of the points from the line chosen using Linear Regression. Our target is that this error should be

We want to find the line 𝑦=𝑚𝑥+𝑐y=mx+c that best fits these data points in the least squares sense, where 𝑚m is the slope and 𝑐c is the y-intercept.