From the course: Excel Statistics Essential Training: 2
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What is regression? - Microsoft Excel Tutorial
From the course: Excel Statistics Essential Training: 2
What is regression?
- [Instructor] Linear regression analysis is a statistical attempt to understand the relationship between two variables. For example, what's the relationship between the miles on a certain type of car and the value of that car. In other words, how much value does the car lose every time I drive 500 miles? Linear regression would attempt to try and estimate the car's value knowing only the mileage on the car. We would call mileage the predictor and put it on the X axis. We would call value the outcome and put that on the Y axis. The variable on the x axis is also considered the independent variable, while the variable on the Y axis is the dependent variable. Why? Because the value of the car is dependent on the mileage of that car. So now we'd collect some data for these types of cars. Cars with different mileage and thus different values. The data would then be plotted on a scatter chart. This is where Excel comes…
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