Understanding Linear Regression: Simple & Multiple and Checking Model Fit
Linear regression models find extensive application across various domains, serving as a cornerstone in predictive analytics, economic forecasting, and scientific research. By establishing a linear relationship between predictor variables and a continuous outcome, these models offer invaluable insights into data patterns and facilitate informed decision-making. From predicting sales trends in business to analyzing the impact of environmental factors on crop yields in agriculture, linear regression models provide a versatile framework for understanding complex relationships and making evidence-based predictions. With its simplicity and interpretability, linear regression remains a go-to method for analysts and researchers seeking to unravel patterns, identify trends, and extract actionable insights from their data.
STATISTICAL MODELLING
