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 What is the meaning of the least squares method? 

Least Squares Method :

Least squares Method is a statistical technique used to find the "line of best fit" for the given model/dataset. This method visually states the relationship between the data points. Here each point of data is illustrative between a known independent variable and an unknown dependent variable. It is the best solution to minimize the sum of the squares of the errors made in every single equation. The method is commonly used in regression analysis and estimation, in order to create a straight line which reduces the sum of the squares of the errors in the result.