Slope of the Line of Best Fit
Definition
The slope of the line of best fit represents the rate at which the dependent variable changes with respect to the independent variable. It indicates how much the dependent variable is expected to change for each unit increase in the independent variable.
Analogy
Think of a car driving up a hill. The slope of the line of best fit is like the steepness of that hill. A steeper slope means a faster rate of change, just like a steeper hill requires more effort from the car to climb.
Related terms
Residuals: The differences between observed and predicted values on a regression line.
Correlation Coefficient: A measure that quantifies the strength and directionality of the linear relationship between two variables.
Extrapolation: Estimating values outside the range of observed data based on a regression model.
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