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This is an introduction to OLS and Goodness-Of-Fit tutorial. This video touches on each of these subjects:
1. What is OLS? ("Ordinary Least Squares")
2. Properties of OLS
3. "Sum of Squared Residuals" (SSR), "Explained Sum of Squares" (SSE) & "Total Sum of Squares" (SST)
4. "Goodness-Of-Fit" (R-Squared)
5. Interpreting R-Squared
This video is intended to provide the student with an introduction to the "Ordinary Least Squares" method of estimation and its properties. This video also introduces the goodness of fit measure, R-Squared.