Basic Regression

Regression analysis is a powerful statistical technique used to analyze the relationship between a dependent variable (also known as the response variable) and one or more independent variables (also known as predictor or explanatory variables). It helps to understand how changes in the independent variables affect the dependent variable and provides a mathematical model that can be used for prediction and forecasting purposes. The primary goal of regression analysis is to create an equation that best describes the relationship between the variables and minimizes the errors between the predicted and observed values.