STATISTICAL TECHNIQUES AND TOOLS
REGRESSION
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
It is the technique used to develop the equation for a straight line and make these predictions
|
|
Regression Analysis
|
|
|
Best Fit Line
|
|
|
Pearson r
|
|
|
Correlation Analysis
|
Explanation:
Detailed explanation-1: -Linear Regression establishes a relationship between dependent variable (Y) and one or more independent variables (X) using a best fit straight line (also known as regression line).
Detailed explanation-2: -The least squares method is a form of mathematical regression analysis used to determine the line of best fit for a set of data, providing a visual demonstration of the relationship between the data points.
Detailed explanation-3: -We can use the regression line to predict values of Y given values of X. For any given value of X, we go straight up to the line, and then move horizontally to the left to find the value of Y. The predicted value of Y is called the predicted value of Y, and is denoted Y’.
There is 1 question to complete.