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Ordinary Least Squares Regression

Home » Glossaries » Ordinary Least Squares Regression

Ordinary Least Squares Regression

Ordinary Least Squares Regression:

Ordinary least squares regression is a special (and the most common) kind of ordinary linear regression . It is based on the least squares method of finding regression parameters.

Technically, the aim of ordinary least squares regression is to find out those values [^a] and [^b] of parameters a ("intercept") and b ("slope") in the simple linear regression model



yi = a + b xi;   i = 1,...,N


that minimize the sum of squares of residuals:



N
�
i=1 
(yi -
^
a
 
-
^
b
 
xi )2


See also: multiple least squares regression

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Courses Using This Term

Regression Analysis
This course will teach you how multiple linear regression models are derived, the use software to implement them, what assumptions underlie the models, how to test whether your data meet those assumptions and what can be done when those assumptions are not met, and develop strategies for building and understanding useful models.
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