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A best fit graph to some data is exactly that: it is a line which fits the data best according to some optimality criterion.

There is a always a trade off in fitting a line to data: one can change the number of degrees of freedom of the underlying equation, which affects how close the line can get to the data points. With more degrees of freedom, the line can more closely approximate the data.

This is not to say that more degrees of freedom are better: with too many degrees of freedom, one is merely fitting to the noise in the measurement of the data, and the line will predict subsequent data poorly, when both interpolating and extrapolating the existing data.

This is an example of Occam's Razor: one must pick the simplest model which adequately fits the data.

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