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Regression Equation

Definition

A regression equation is a mathematical formula that represents the relationship between a dependent variable and one or more independent variables in a statistical model.

Analogy

Think of a regression equation as a recipe for baking cookies. The ingredients (independent variables) and their quantities determine the final taste (dependent variable). Just like adjusting the amounts of flour, sugar, and butter can change the cookie's flavor, modifying the values of independent variables in a regression equation can impact the predicted outcome.

Related terms

Residual Plots: Residual plots are graphs that show the differences between observed data points and predicted values from a regression model. They help identify patterns or trends in these differences, which can indicate if there are any issues with the model's assumptions.

Linear Model: A linear model is a type of regression model where the relationship between the dependent variable and independent variables is assumed to be linear. It follows a straight line pattern when plotted on a graph.

Predictor Variables: Predictor variables, also known as independent variables or explanatory variables, are factors used to predict or explain changes in the dependent variable. In a regression equation, they are represented by X-values.