What Does OLS Stand For?

OLS stands for Ordinary Least Squares

Ordinary Least Squares (OLS) is a statistical method used in linear regression analysis to estimate the parameters of a linear relationship between independent and dependent variables. By minimizing the sum of the squares of the differences between observed and predicted values, OLS provides a framework for making inferences about the relationships within data. It is widely used due to its simplicity and efficiency, particularly in situations where the assumptions of linearity, independence, and homoscedasticity are met.

Other Meanings for OLS