APPC - Regression

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6 Terms

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Linear regression

Roughly constant rates of change

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Quadratic regression

Roughly linear rates of change or rougly symmetric with a single max/min.

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Cubic regression

Used for volume or formulas where an “x³” is needed

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Residual

The difference between observed and predicted values in a regression analysis, indicating the accuracy of the model's predictions.

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Overestimated value

When the estimated value is higher than the actual value (when residual is negative)

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Underestimated value

When the estimated value is lower than the actual value (when residual is positive)