A predictor variable is a variable that is used in statistical modeling to forecast or estimate the value of another variable, known as the response variable. It plays a crucial role in understanding relationships between variables and making predictions based on those relationships. Predictor variables can be continuous, categorical, or binary, and they are essential in forming prediction equations and assessing how changes in predictor variables affect the response variable.
congrats on reading the definition of Predictor Variable. now let's actually learn it.