REGRESSION ANALYSIS Meaning and
Definition
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Regression analysis is a statistical method used to model the relationship between a dependent variable and one or more independent variables in order to predict or estimate the value of the dependent variable based on the given independent variables. It is commonly employed in various fields, including economics, finance, psychology, and social sciences.
In regression analysis, the dependent variable is the outcome or response variable that is being analyzed, while the independent variables are the predictor variables that are believed to have an impact on the dependent variable. The model is built by fitting a regression line or curve that best represents the relationship between the dependent and independent variables.
The regression model allows for the identification and quantification of the strength, direction, and significance of the relationship between the variables. It enables the exploration of how changes in the independent variables correspond to changes in the dependent variable, making it possible to test hypotheses and make predictions.
Regression analysis determines the equation of the regression line or curve by minimizing the sum of the squared differences between the observed values of the dependent variable and the predicted values calculated by the model. This technique accommodates both simple regression, where only one independent variable is considered, and multiple regression, which involves analyzing the impact of several independent variables simultaneously.
Overall, regression analysis is a valuable statistical tool that facilitates the understanding, interpretation, and prediction of the relationships between variables, providing insights into complex data sets and aiding decision-making processes.
Common Misspellings for REGRESSION ANALYSIS
- eegression analysis
- degression analysis
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- tegression analysis
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- 4egression analysis
- rwgression analysis
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- retression analysis
- regeession analysis
Etymology of REGRESSION ANALYSIS
The word regression originates from the Latin word regressus, which means return or retreat. In the context of statistics and mathematics, it refers to a statistical technique used to model the relationship between a dependent variable and one or more independent variables.
The term regression analysis was coined in the late 19th century by the English statistician Sir Francis Galton. He observed that the heights of children tend to regress toward the average height of their parents. Galton called this phenomenon regression toward mediocrity initially, but later it became commonly known as regression. As a result, the statistical method to analyze such relationships was named regression analysis or regression modeling.
Similar spelling words for REGRESSION ANALYSIS
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