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Fundamentals of Statistics: Regression
Learn how to find, describe, and measure the line of regression.Preview the first lesson free — get full access to all 6 lessons.
Beginner Provider : Victoria Sexton 6 Lessons · 17m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
In statistics, regression is a method of determining the strength of the relationship between two or more variables. Being able to understand the correlation between two variables is an essential part of statistics. The line of regression can be used as a tool to achieve this and is important when looking for connections within your collected data. Linear regression has many practical applications, including predicting how future data points will act, comparing data points against each other, and determining cost comparison and cost estimation. Many areas of finance use linear regression analysis to help make business decisions since it can be used to determine future outcomes.
In this course on Regression, you will learn about how to find the line of regression, how to describe the line when necessary, and methods for measuring the line. By the end of these lessons, you should be able to adequately describe linear regression, make inferences using linear regression, and know how to calculate a trend line using the regression formula.
What You'll Learn
- Understand concepts related to regression and why regression matters for current and future decision-making
- Find and describe the line of regression (trend line)
- Calculate a trend line using the regression formula
- Apply methods for measuring the line of regression
- Make inferences using linear regression
- Identify the best uses for linear regression
Key Takeaways
- Regression is a method of determining the strength of the relationship between two or more variables.
- The line of regression is a tool used to understand the correlation between variables and to find connections within collected data.
- Linear regression has practical applications including predicting how future data points will act, comparing data points, and determining cost comparison and cost estimation.
- Many areas of finance use linear regression analysis to help make business decisions because it can be used to determine future outcomes.
- By the end of the course, learners should be able to describe linear regression, make inferences using it, and calculate a trend line using the regression formula.
Frequently Asked Questions
What does this course cover?
The course covers how to find the line of regression, how to describe the line when necessary, and methods for measuring the line. Lessons include Introduction, Defining Regression, Finding the Line, Describing the Line, Measuring the Line, and Test Your Knowledge.
What will I be able to do after completing this course?
By the end of the lessons, you should be able to adequately describe linear regression, make inferences using linear regression, and know how to calculate a trend line using the regression formula.
What is regression in statistics?
In statistics, regression is a method of determining the strength of the relationship between two or more variables, and the line of regression can be used as a tool to understand the correlation between variables.
How is linear regression used in practice?
Linear regression has practical applications such as predicting how future data points will act, comparing data points against each other, and determining cost comparison and cost estimation. Many areas of finance use it to help make business decisions since it can determine future outcomes.
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