ISDS 310 Linear Regression
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19 Terms
If you’re a manager and your commercials are resulting in more sales then…
Make more commericals
What is the correlation coefficient
Shows the relationship between two or more variables
Closer to 1 in correlation coefficient means?
Strong positive relationship
Close to -1 in correlation coefficient means?
Negative relationship between two or more variables
At 0 in correlation coefficient means?
No linear relationship between two or more variables
What is regression analysis?
Shows you the relationship between two or more variables
What is a dependent variable?
Variable we want to predict
What is a independent variable?
The variable used to predict
What is simple linear regression?
Has one independent variable
What is multiple linear regression?
Has two or more independent variables
Can you have more than one dependent variable?
No
Y is?
Something you want to predict
X is?
Something you use to predict y
Variability means?
The changes in price
Least squares method finds?
B² and B1
What does least square mean?
Going to minimize some squares
What does the residual do?
Describes the difference
Range means?
Lowest to your highest