Regression

Regression is a statistical method used to determine the relationship between a Dependent variable and one or more inDependent variables. It aims to model the Expected Value of the Dependent variable based on the values of the inDependent variables. Regression analysis is commonly used in various fields, including Economics, biology, engineering, and social sciences, to make predictions or to understand relationships.

Examples:

  • Simple Linear Regression: In a study examining the impact of study hours on exam scores, researchers might use regression to predict exam scores based on the number of hours studied.
  • Multiple Linear Regression: A real estate agent could use multiple regression to predict house prices based on various factors like size, location, and number of bedrooms.

Cases:

  • Case 1: A company analyzes the effect of advertising spend on sales Revenue to allocate Marketing Budgets effectively.
  • Case 2: A health researcher examines the relationship between physical activity, diet, and cholesterol levels to identify risk factors for heart disease.