Intro to Probability for Business
Stepwise regression is a statistical method used for selecting a subset of predictor variables for a model by adding or removing predictors based on their statistical significance. This technique is particularly useful when dealing with multiple independent variables, as it systematically identifies the most relevant ones to include in the final model. By balancing simplicity and accuracy, stepwise regression aids in model selection and validation processes, ensuring that only the most impactful predictors are retained.
congrats on reading the definition of Stepwise Regression. now let's actually learn it.