Can someone help me and explain all the steps of solving this problem which is in the field of Model Fitting and Least-Squares Fit. Thank you.
PROBLEM: For each of the following data sets, formulate the mathematical model that minimizes the largest deviation between the data and the line y = ax+b. If a computer is available, solve for the estimates of a and b.
x: 1.0 , 2.3 , 3.7 , 4.2 , 6.1 , 7.0.
y: 3.6 , 3.0 , 3.2 , 5.1 , 5.3 , 6.8.