Regression Equation: The regression equation is a mathematical model that describes the linear relationship between the independent variable (x) and the dependent variable (y). It takes the form of y = b0 + b1x, where b0 is the y-intercept and b1 is the slope of the line.
Slope (b1): The slope (b1) is the other parameter in the regression equation that represents the change in the dependent variable (y) for a one-unit change in the independent variable (x).
Least Squares Method: The least squares method is a technique used to determine the values of the regression parameters, b0 and b1, that minimize the sum of the squared differences between the observed and predicted values of the dependent variable.