What is linear regression?

Linear regression is a statistical method that is used to establish a relationship between two variables. It calculates the value of a dependent variable based on the values of one or more independent variables. It is a linear approach where a straight line is fitted to the data, minimizing the sum of squared errors between the predicted values and the actual values. Linear regression models are widely used in various fields like finance, economics, social sciences, and engineering, to predict the trend or pattern of a certain phenomenon or behavior. It is a simple and powerful method that can help in making data-driven decisions.

This mind map was published on 19 April 2023 and has been viewed 62 times.