What is Linear Regression?
Linear Regression is a statistical method used to model the relationship between a dependent variable (also known as the response variable) and one or more independent variables (also known as predictor variables). The goal of Linear Regression is to find the best-fitting line through a set of data points, which can then be used to make predictions about the response variable for different values of the predictor variables.
Linear Regression models are represented by the equation y = mx + b, where y is the response variable, x is the predictor variable, m is the slope of the line, and b is the y-intercept. Simple Linear Regression is used to model the relationship between one predictor variable and one response variable.
Linear Regression is a widely used statistical technique and is often used in fields such as economics, engineering, and the natural sciences.
How to Calculate Regression Coefficient?
Regression Coefficient calculator uses Regression Coefficient = (Mean of Y-Regression Constant)/Mean of X to calculate the Regression Coefficient, The Regression Coefficient formula is defined as the value that represents the change in the dependent variable Y for a unit change in the independent variable X. Regression Coefficient is denoted by b1 symbol.
How to calculate Regression Coefficient using this online calculator? To use this online calculator for Regression Coefficient, enter Mean of Y (ȳ), Regression Constant (b0) & Mean of X (x̅) and hit the calculate button. Here is how the Regression Coefficient calculation can be explained with given input values -> 5.333333 = (200-50)/30.