Consider the four points (10,10), (20,50), (40,20), and (50,80). the least squares line is modifyingabove y with caret equals 7.0 plus 1.1 xy=7.0+1.1x. explain what "least squares" means, using these data as a specific example.

The y-intercept of the least squares line is 7 and slope of the line is 1.1. It means x and y are positively related.

Step-by-step explanation:

Least squares : It is an approach to find a regression line such that the sum of squares of residual(difference between estimated point on the line and data point) is minimum.

The given points are (10,10), (20,50), (40,20), and (50,80).

The least squares line is

            .... (1)

The general form of least squares line is

            .... (2)

where, a is y-intercept and b is slope of the line.

On comparing (1) and (2) we get

It means the y-intercept of the least squares line is 7 and slope of the line is 1.1.

Slope is positive it means x and y are positively related.