For one of my questions on my test, we were to define the least squares criterion. I said: When we create a linear model we are attempting to minimize the distance between each of the data points plotted and our regression line. Our Least Squares Criterion is that we want our regression line to have the smallest possible value when you take all of the distances between the data points and the regression line squared. The smaller the value the better fit our regression line is.
Would anyone be willing to tweak my definition and define it in a superior way? Any help appreciated!