Consider two lines defined by:
$$\begin{aligned}y_1 &= m_1 x + b_1\\y_2 &= m_2 x + b_2\end{aligned}$$
where for the sake of argument, the domain of both lines is the same and everything is a real number.
Is there an analytical solution to a new line, $y_3$, that minimizes the error between the original two lines? For example, $m_3 = \frac{1}{2}(m_1+m_2)$ and $b_3 = \frac{1}{2}(b_1+b_2)$. This would work for lines where $m_1 = -m_2$ and $b_1 = -b_2$. However, for two parallel lines averaging the intercepts would be great but the slope would need to be unchanged.
Is there a general expression for the new line that best approximates the original two lines?