key term - Regression analysis

Definition

Regression analysis is a statistical method used to determine the relationship between a dependent variable and one or more independent variables. It helps in fitting models, such as exponential functions, to data.

5 Must Know Facts For Your Next Test

1. The goal of regression analysis is to find the equation that best fits the data points.
2. In exponential regression, the model takes the form $y = ab^x$ where $a$ and $b$ are constants.
3. Logarithmic transformations can be used to linearize an exponential relationship for easier analysis.
4. The coefficient of determination, denoted as $R^2$, measures how well the regression model fits the data.
5. Outliers can significantly affect the results of a regression analysis.

Review Questions

Related terms

Exponential Function:

A mathematical function in which an independent variable appears in the exponent, typically written as $f(x) = ab^x$.

Logarithmic Transformation:

A process that applies a logarithm to each data point to linearize exponential relationships for easier analysis.

$R^2$ (Coefficient of Determination): A statistical measure that indicates how well data fit a statistical model – specifically how well it explains the variability of the dependent variable.