Line of Best Fit – Practice Problems

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A line of best fit is a line that best represents the data of a scatter plot. It is as close as possible to all points; it may pass through some of the points, none of the points, or all of the points. The line of best fit can be used as a tool for analyzing investment risk or trading activity. It is also used in regression analysis and is a key tool for statistical calculations such as the sum of squares. Learn how to compute the line of best fit for a scatter plot by helping Valentine Verne on his treasure hunt in the deep blue ocean. Common Core Reference: CCSS.MATH.CONTENT.8.SP.A.2

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Exercises in this Practice Problem
Explain what the line of best fit is.
Identify how to tell which line fits better when two lines are given.
Decide which line fits the best when the following residuals are given.
Calculate the sum of squares of the following line.
Determine the $y$-value of the given line.
Decide which line fits better to the given three points.