1. Simple Linear Regression Model

Hena Lee
Hena Lee
Sep 6, 2018 · 2 min read

Regression is one of the important types of data analysis and it allows us to explore the statistical relationship between variables. Regression analysis also allows us to predict or explain a dependent variable based on one or more independent variables.

When there is only one independent variable, we can build a simple linear regression model.

Simple Linear Regression Model

Suppose we want to know the relationship between expenditures and income of certain families for a particular period.

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