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What is a line of best fit?

What is a line of best fit? Here are some definitions.

Noun
  1. (mathematics) A line on a scatter plot that best defines or expresses the trend shown in the plotted points. It is chosen so that the sum of the squares of the distances from the points to the line is a minimum. It also illustrates the correlation (positive, negative, or zero correlation) between the plotted variables.
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