Test statistic that quantifies the amount of variability in a dependent variable explained by the regression model's independent variable(s).
An analytical method used to quantify the relationship between two or more variables by fitting a linear equation to observed data. This method is commonly employed in finance, economics, and various scientific fields to identify trends and make predictions.
A regression line is a line calculated in regression analysis that is used to estimate the relationship between two quantities, the independent variable and the dependent variable.
Simple Linear Regression: Method for Analyzing the Relationship Between One Independent Variable and One Dependent Variable
A statistic is a descriptive measure calculated from data sampled from a population, used to make inferences about the overall population. It serves as a fundamental element in the field of statistics, aiding in data analysis, hypothesis testing, and predictive modeling.
