What is a Line of Best Fit?

The line of best fit is a highly used concept of statistics. It refers to a line/curve that represents the relation between two random/unknown variables in a scatter plot such that we can make predictions using this line and the error or, distance between the original data points and the predicted ones is minimized. Now, it is not necessary that the line of best fit has to be straight; it can be a curve depending upon the spread in the scatter plot. Presently, it is very easy to find the line of best fit of any data because there is a plethora of tools available for this analysis such as Google Sheets, Microsoft Excel, OriginPro, etc.

In this article, we will learn how to find the line of best fit (Polynomial Fitting) for a given data in Google Sheets. Google Sheets provides many functions that help us to find the best-fit line and add it to the plot of given data.

How to Insert Line of Best Fit in Google Spreadsheets

How to Find the Line of Best Fit on Google Sheets

  1. Select the Customize tab from the Chart Editor
  2. Select the Series drop-down menu
  3. Scroll down to the three checkboxes
  4. Click on the Trend Line checkbox

Creating plots is a crucial aspect of working with spreadsheet software like Google Sheets and Microsoft Excel. Frequently, we encounter scenarios where we need to analyze data obtained from experiments or external sources, and manually identifying trends can be challenging. In such cases, we employ the technique of polynomial fitting from Statistics to determine a mathematical function that optimally aligns with the provided data. The utilization of graphs and charts for data visualization remains a valuable method for extracting insights and understanding relationships among different data points.

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What is a Line of Best Fit?

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How to Create a Line of Best Fit in Google Sheets

The line of best fit is a highly used concept of statistics. It refers to a line/curve that represents the relation between two random/unknown variables in a scatter plot such that we can make predictions using this line and the error or, distance between the original data points and the predicted ones is minimized. Now, it is not necessary that the line of best fit has to be straight; it can be a curve depending upon the spread in the scatter plot. Presently, it is very easy to find the line of best fit of any data because there is a plethora of tools available for this analysis such as Google Sheets, Microsoft Excel, OriginPro, etc....

How To Find the Slope of a Line of Best Fit In Google Sheets?

Step 1: Create a Scatter Plot of Some Data...

How to Find R2 in Google Sheets [R-Squared]

Now, for those who need extra insights into their data, they can get the equation of the best-fit line used and also the R^2 value of the line. The R^2 value represents how well the best-fit line fits the given data. The closer the value is to 1, the better the fit. Absolute 1 means the line fits the data. To add these values, we only need to choose the options in the chart editor....

Conclusion

Under the Trendline Checkbox, there are options for Label and a checkbox for \bold{r^2}. Set the label to Use Equation from the dropdown menu and tick the checkbox for R-squared value....

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