Calculating a Least Squares Regression Line: Equation, Example, Explanation If you want a simple explanation of how to calculate and draw a line of best fit through your data, read on!

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The line of best fit is an output of regression analysis that represents the relationship between two or more variables in a dataset.

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The coefficient of determination is used in statistical analysis to assess how well a model explains and predicts future outcomes. It's more commonly known as r-squared.