Regarding multiple linear regression analysis: a. What sum of squares is made as small as possible when finding the best-fitting plane based on the method of least squares? b. What do we call the best-fitting plane that is obtained by the method of least squares? c. What do we call the act of using a multiple linear regression equation to make predictions for values of the predictor variables that are outside the region of the observed values of the predictor variables?
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Regarding multiple linear
a. What sum of squares is made as small as possible when finding the best-fitting plane based on the method of least squares?
b. What do we call the best-fitting plane that is obtained by the method of least squares?
c. What do we call the act of using a multiple linear regression equation to make predictions for values of the predictor variables that are outside the region of the observed values of the predictor variables?
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