Regression modelling technique is widely used in analytics and perhaps easiest to understand. In this post I am sharing my findings about the concept in simple words.
What is Simple Linear Regression?
A Simple Linear Regression allows you to determine functional dependency between two sets of numbers. For example, we can use regression to determine the relation between ice cream sales and average temperature.
Since we are talking about functional dependency between two sets of variables, we need an independent variable and one dependent variable. In the example above, if change in temperature leads to change in ice cream sales then, temperature is independent variable and sales is dependent variable.
Dependent variables is also called as criterion, response variable or label. It is denoted by Y.
The independent variable is also referred as covariates, predictor or features. It is denoted by X.
What is Simple Linear Regression?
A Simple Linear Regression allows you to determine functional dependency between two sets of numbers. For example, we can use regression to determine the relation between ice cream sales and average temperature.
Since we are talking about functional dependency between two sets of variables, we need an independent variable and one dependent variable. In the example above, if change in temperature leads to change in ice cream sales then, temperature is independent variable and sales is dependent variable.
Dependent variables is also called as criterion, response variable or label. It is denoted by Y.
The independent variable is also referred as covariates, predictor or features. It is denoted by X.