Calculating the equation of a regression line
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Calculating the equation of a regression line
We determine the correlation coefficient for bivariate data, which helps understand the relationship between variables. We then build the equation for the least squares line, using standard deviations and the correlation coefficient. The regression line equation y hat = mx + b is calculated.
Jul 12, 2017
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Linear regression is a statistical technique used to describe the relationship between a dependent variable and one or more independent variables. It works by finding the straight line that best fits the data, represented by an equation with a slope (or multiple slopes) and an intercept. To fit this line, the algorithm estimates the model parameters in a way that minimizes the gap between the actual data points and the model’s predictions. These gaps are called residuals, which represent the dif
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