FTP, name this method used by economists and statisticians to achieve the best linear unbiased estimates of the average values of a predicted variable on the basis of known values of other variables, which involves minimizing a certain function of the residual differences.
The Gauss-Markov theorem describes the ordinary method of this as BLUE. In the case of perfect multicollinearity the variances and standard errors of the betas are infinite, and in the case of heteroskedasticity (het-er-o-ske-das-tis-it-ee) the ordinary method is no longer perfectly efficient. FTP, name this method used by economists and statisticians to achieve the best linear unbiased estimates of the average values of a predicted variable on the basis of known values of other variables, which involves minimizing a certain function of the residual differences.
The Gauss-Markov theorem describes the ordinary method of this as BLUE.
Ordinary least squares regression (prompt on regression; accept OLS)