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Published in:
2023 | OriginalPaper | Chapter
4. Simple Linear Regression
Author : Daniel P. McGibney
Published in: Applied Linear Regression for Business Analytics with R
Publisher: Springer International Publishing
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Abstract
In Albert Einstein’s quote above, he stresses the paramount importance of simplicity. In regression analysis, focusing on only two variables demonstrates the concepts simply. Thus, in Chap. 2, we calculated the least squares line by using two variables. We also plotted scatterplots and calculated correlation coefficients to further assess the linear relationship. From this analysis, we obtained a detailed understanding of the relationship between two variables. Upon understanding a linear relationship, other more complicated processes become easier to grasp.