![]() There are two types of regression analysis: single variable linear regression and multiple regression. Physically creating this scatter plot can be a natural starting point for parsing out the relationships between variables. The regression equation represents the line’s slope and the relationship between the two variables, along with an estimation of error. The regression line is the line that best fits the scatter plot data. One way to think of regression is by visualizing a scatter plot of your data with the independent variable on the X-axis and the dependent variable on the Y-axis. “Such insights can prove extremely valuable for analyzing historical trends and developing forecasts.” “Regression allows us to gain insights into the structure of that relationship and provides measures of how well the data fit that relationship,” says HBS Professor Jan Hammond, who teaches Business Analytics, one of three courses that comprise the Credential of Readiness (CORe) program.
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