Regression Model

Definition

A regression model is a statistical tool used to examine the relationship between a dependent variable and one or more independent variables. It helps us understand how changes in the independent variables affect the dependent variable.

Related terms

Predictor Variables: These are the independent variables in a regression model that are used to predict or explain changes in the dependent variable.

Coefficient: In a regression model, coefficients represent the estimated change in the dependent variable for each unit change in an independent variable.

Residuals: Residuals are the differences between observed values and predicted values from a regression model. They help assess how well the model fits the data.