A regression line is a straight line that represents the relationship between two variables in a scatter plot. It is used to predict or estimate the value of one variable based on the value of another variable.
Imagine you are driving a car and want to estimate how long it will take you to reach your destination based on your current speed. The regression line would be like having a GPS system that predicts your arrival time based on your current speed and distance traveled so far.
Correlation Coefficient: The correlation coefficient measures the strength and direction of the linear relationship between two variables.
Residuals: Residuals are the differences between observed values and predicted values from a regression model. They help assess how well the model fits the data.
Slope: In a regression line, slope represents how much change occurs in the dependent variable for each unit change in the independent variable.
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