Newton's Divided Differences is a method for constructing polynomial interpolants of a given set of data points, allowing for efficient computation of coefficients in Newton's interpolating polynomial form. This approach is particularly useful for its recursive nature and its ability to handle unequally spaced data points, making it a versatile tool in numerical analysis.
The Least Squares Method is a statistical technique used to determine the best-fitting line or curve to a given set of data by minimizing the sum of the squares of the differences between the observed and predicted values. It is widely used in regression analysis to estimate the parameters of a linear model, ensuring the best possible fit to the data by reducing error variance.