Overview
Regression problems are a fundamental aspect of statistics and data analysis, allowing us to predict outcomes based on relationships between variables. By understanding how to model these relationships, we can make informed decisions in various fields such as economics, healthcare, and marketing. Le...
Key Terms
Example: In predicting house prices, the price is the dependent variable.
Example: Square footage and location can be independent variables in house price prediction.
Example: y = mx + b is the formula for linear regression.
Example: y = b0 + b1x1 + b2x2 + ... + bnxn is the formula for multiple regression.
Example: An R-squared of 0.8 means 80% of the variance is explained.
Example: Lower MSE indicates a better fit of the model.