Regression Analysis
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7 Terms
Regression Analysis
A line is created using statistical analysis and programs.
What is the difference between Regression Analysis and the Scatterplot Method?
Regression statistically fits the line to the data points, while the scatterplot method subjectively or visually fits the line to the data point.
Simple Regression
Only one X variable is considered.
Multiple Regression
Multiple X variables considered.
Advantages of Regression Analysis 1 and 2:
Uses all data points equally. Extremely objective.
Advantages of Regression Analysis 3 and 4:
Statistical measure of R2 - tells us if there is a linear relationship exists between x and y. Can identify outliers.
Disadvantages of Regression Analysis:
Output is complex and difficult to interpret at times. Possible that outliers are included in dataset (which is why r2 is so helpful).
