Basic concept of regression
- Scatter plot
- Visual representation of relationship between dependent and independent variable
- Dependent / Independent variables
- The main goal of regression analysis is to measure how the changes in one variable known as dependent variable can be explained by the changes in one or more other variables called the independent variables
- Linear relationship
- There is linear relationship between dependent and independent variables
- Slope and intercept term of the regression equation are know as parameters
- Error term
- Difference between expected value from the equation and actual value. This is mainly because the dependence of the dependent variable on other factors is not taken into account
##SUB-TOPIC###The million dollar question###
If I study for five more hours will it actually increase my marks?
Can we draw a trend line to predict this relationship?