A pair of equations like this are called simultaneous equations - because you are trying to solve them both with the same values for \(x\) and \(y\).

For more information on these methods, see the references at the end of this chapter. There are two fundamental methods of estimation for simultaneous equations: least squares and maximum likelihood.

Her expertise is in personal finance and investing, and real estate. Simultaneous closing (SIMO) is a real estate financing strategy in which two transactions occur together when closing a single ...