Linear regression model, Basic Statistics

Assignment Help:

Q. Explain Linear Regression model?

Ans.

Linear correlation measures the strength of a linear relationship, but not the exact numerical relationship. Linear regression, on the other hand, helps us predict outcomes given a data set. For example, how can we predict the distance needed by a car to stop based on its speed?

Given the value of an independent variable (x-axis), we want to be able to predict the value of the dependent variable (y-axis).

In order to make these predictions, we use the linear-regression line or the least-squares line with the scatter plot of data.

1397_Linear Regression model.gif


The linear-regression line fit minimizes the vertical distances for a data set. (See the vertical blue lines in the diagram).

In fact, the closer the correlation coefficient, r, is to +1 or 1, the better the linear-regression line fits the data. Recall that when r = +1 or 1 the data is said to have a perfect correlation (all points of the data set will lie on a line). The linear-regression line can be found using a graphing calculator. There are more sophisticated methods of finding the linear-regression line that are taught in more advanced statistics courses.

Statisticians look for the equation of the linear-regression line because it expresses the relationship between the two variables x and y. Regression analysis calculates an equation that provides values of y for given values of x. Usually the exact value of y is not predictable, but regression analysis will allow us to make reasonably close predictions.


Related Discussions:- Linear regression model

Histogram, difference between histogram and historigram

difference between histogram and historigram

Frequency polygon, Differentiate between Historigrams and Histogram

Differentiate between Historigrams and Histogram

Two hanging masses, Two blocks with masses and hang one under the other. ...

Two blocks with masses and hang one under the other. For this problem, take the positive direction to be upward, and use for the magnitude of the acceleration due to gravity. Fi

Time series, Explain how you would decide whether to use the additive model...

Explain how you would decide whether to use the additive model or the multiplicative model to analyse a time series.

Financial accounting, when the closing inventory is understated, the profit...

when the closing inventory is understated, the profit for the period will

Characteristics, explain the characteristics of statistics

explain the characteristics of statistics

Define block grant, Define block grant A federal grant that consolidates, ...

Define block grant A federal grant that consolidates, for a wide reason or any type of purpose, funds previously awarded for a wide variety of activities.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd