Explain the elements of a regression equation for a simple linear regression: Y=b+mx. Why are regression analysis useful? Give an example.
Solution :
Y = b + mx
Where ,
b = y-intercept
m = slope
x = x - coordinate
Uses of regression analysis :
Example : Prediction and forecasting
Casual relationship between independent and dependent variable .
Helps to understand which among the independent variable are related to the dependent variable
Explain the elements of a regression equation for a simple linear regression: Y=b+mx. Why are regression...
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