Linear regression model, Basic Statistics

Q. Explain Linear Regression model?


Linear correlation measures the strength of a linear relationship, but not the exact numerical relationship. Linear regression, on the other hand, helps us predict outcomes given a data set. For example, how can we predict the distance needed by a car to stop based on its speed?

Given the value of an independent variable (x-axis), we want to be able to predict the value of the dependent variable (y-axis).

In order to make these predictions, we use the linear-regression line or the least-squares line with the scatter plot of data.

1397_Linear Regression model.gif

The linear-regression line fit minimizes the vertical distances for a data set. (See the vertical blue lines in the diagram).

In fact, the closer the correlation coefficient, r, is to +1 or 1, the better the linear-regression line fits the data. Recall that when r = +1 or 1 the data is said to have a perfect correlation (all points of the data set will lie on a line). The linear-regression line can be found using a graphing calculator. There are more sophisticated methods of finding the linear-regression line that are taught in more advanced statistics courses.

Statisticians look for the equation of the linear-regression line because it expresses the relationship between the two variables x and y. Regression analysis calculates an equation that provides values of y for given values of x. Usually the exact value of y is not predictable, but regression analysis will allow us to make reasonably close predictions.

Posted Date: 5/3/2013 5:17:59 AM | Location : United States

Related Discussions:- Linear regression model, Assignment Help, Ask Question on Linear regression model, Get Answer, Expert's Help, Linear regression model Discussions

Write discussion on Linear regression model
Your posts are moderated
Related Questions
1. Suppose that a population has mean, µ, and standard deviation, σ. What does the central limit theorem tell us about the distribution of the sample mean?

What is cut-off date A chosen manually date whereby transactions usually are stopped to give for closing of the books of accounts for a known period: for audit purposes,

Use the data in the BWGHT.txt for this question. The variable descriptions are given in the file BWGHT_variables.txt. There are 1388 observations in this dataset. (a) Run the regre offering financial accounting help,The Financial Accounting vs. The Book-keeping issues itself with the producing (correctly and in a set of books) of those dealin

A box contains 20 fuses of which 5 are defective If 2 fuses are chosen together at random what is the probability that both the fuses are defective?ion..

Test the claim that 10% of a candy makers candies are red. Use a 0.05 significance and the table to answer the following questions: Find the proportion of the candies that are red?

A, Explain how a person can be free to choose but his or her choices are casually determined by past event B , Draw the casual tree for newcomb's problem when Eve can't perfectl

explain the graphical method of measure of central tendency.

(3) You  generate  a  null  hypothesis  that  = 32.   You  draw  a  random  sample  of  size n = 28 from the population. You observe the following sample statistics: Y = 35:5 and a