Ordinary Least Squares

/ˈɔːr.dən.er.i liːst skwɛərz/

noun … “fitting a line to tame the scatter.”

Ordinary Least Squares (OLS) is a fundamental method in statistics and regression analysis used to estimate the parameters of a linear model by minimizing the sum of squared differences between observed outcomes and predicted values. It provides the best linear unbiased estimates under classical assumptions, allowing analysts to quantify relationships between predictor variables and a response variable while assessing the strength and direction of these relationships.