I am trying to do a simple linear regression of a scatterplot and it results in this:
So, the red line is the result I get, but I expect something more like the black line (drew it roughly). I use ordinary least square minimization and I understand that the black line would have huge residuals for the points on the far right of the plot for example. So it is clear why I do not get the result I want.
Now, I am wondering if there are other methods, for example using the perpendicular distance to the line rather than the vertical. Maybe you can throw me some buzz words or give me some ideas on what I could try.