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StatisticsQ&A LibraryRegarding multiple linear regression analysis: a. What sum of squares is made as small as possible when finding the best-fitting plane based on the method of least squares? b. What do we call the best-fitting plane that is obtained by the method of least squares? c. What do we call the act of using a multiple linear regression equation to make predictions for values of the predictor variables that are outside the region of the observed values of the predictor variables?Start your trial now! First week only $4.99!*arrow_forward*

Question

Regarding multiple linear regression analysis:

a. What sum of squares is made as small as possible when finding the best-fitting plane based on the method of least squares?

b. What do we call the best-fitting plane that is obtained by the method of least squares?

c. What do we call the act of using a multiple linear regression equation to make predictions for values of the predictor variables that are outside the region of the observed values of the predictor variables?

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