An Application of Linear Algebra

Kevin McGoldrick - Math 345, Fall 2009

What is the “best” line to “fit” these points?

Least Squares Estimation

An Overview

Oftentimes in the world, two variables are theorized or assumed to have a linear relationship.  However, in practice, measurement errors are frequently present for various reasons, and the data points may not fit a line exactly.  Thus, the question arises: What is the “best” line which can be drawn through a set of points?

 

To answer this question, we must define what “best” will mean in this case.  We will also find that to identify this best line, we will need to employ the use of Linear Algebra.