Understanding the Best Fit Line: What Does It Mean?

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SUMMARY

The best fit line represents a statistical trend on a graph, typically achieved by adding a "trend line" in Excel. Users can right-click on a data point to add a trendline and select the type that best fits the data. The placement of the line can vary; for linear graphs, it connects most data points, while some outliers may be excluded if they represent erroneous values. The best fit line does not necessarily connect all dots but aims to minimize the distance from the line to the data points.

PREREQUISITES
  • Understanding of statistical trends
  • Familiarity with Excel 365 or later
  • Basic knowledge of linear graphs
  • Ability to identify outliers in data sets
NEXT STEPS
  • Learn how to add trendlines in Excel 365
  • Explore different types of trendlines available in Excel
  • Study the concept of linear regression
  • Investigate methods for identifying and handling outliers in data
USEFUL FOR

Data analysts, Excel users, statisticians, and anyone interested in visualizing data trends effectively.

papi
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best fit line?

DOes that mean you draw a line/curve connecting the dots?
Or does that mean you draw a line in between the dots leaving some above and some below?
or does that mean you connect the dots but leave out the ones that dnt fit with the shape?
please help
 
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If you are using Excel, you would have to add a "trend line", or you can always draw it but I'm too lazy for that :P. Anyways it means to draw/put a line on a graph indicating a statistical trend. Some dots can also not be included because of it being a wrong or bad value. In Excel, just right click on 1 of the dots on the graph and click add trendline, the choose which type fits best your graph. If you need the equation, just click the option tab and select add equation on chart.
 


my graoh was drawn by hand
so is it a line between the pointss, or through??
 


Well I would say it depends on your graph. Let's say you have a linear graph, then you will need to make a straight line that connects most dots.
 

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