What method is commonly used to estimate the coefficients in Simple Linear Regression?
- Maximum Likelihood Estimation
- Minimizing the Sum of Absolute Errors
- Minimizing the Sum of the Squares of the Residuals
- Neural Networks Training
In Simple Linear Regression, the method used to estimate coefficients is by minimizing the sum of the squares of the residuals, known as the Ordinary Least Squares (OLS) method.
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