Question

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A line that is used to represent the linear trend in the data is called the line of best fit. When finding the error of the line of best fit, which statement holds true?


a.
If the error is less than one, the line of best fit is the linear equation of the data.
b.
The smaller the error, the better the fit.
c.
If the error is greater than one, there is no correlation to the line of best fit.
d.
The larger the error, the better the fit.

Answer 1

The error is really about the different between your actual values and the values that your line of best fit will come up with. You will almost always have some degree of error unless your points perfectly form a straight line. So the smaller the error, the better the fit (often described by correlation and regression r^2 value). Error of 1 doesn't give you much indication, it depends on the scale of your data.