4 ms·
This part is incorrect: “ The main practical reason why square error is minimized in ordinary linear regression is that it has an analytical solution” OLS is p
by xadhominemx 1y ago
This part is incorrect: “ The main practical reason why square error is minimized in ordinary linear regression is that it has an analytical solution”
OLS is popular because it gives correct answers as a result of the CLT
- disgruntledphd2 1y agoAnd it has an analytical solution, which was important before computing (and still makes it quicker today).
- kyllo 1y agoIn other words, as economists say, because OLS is provably the BLUE (Best Linear Unbiased Estimator) aka the Gauss-Markov Theorem.