What is multiple regression analysis meaning?

Multiple regression analysis is a statistical method that is used to predict the value of a dependent variable based on the values of two or more independent variables.

In regression analysis, what is the predictor variable called?

The predictor variable is the name given to an independent variable that we use in regression analysis. The predictor variable provides information about an associated dependent variable regarding a certain outcome. At their core, predictor variables are those that are linked with particular outcomes.

What is a residual plot in a regression analysis?

A residual plot is a graph that shows the residuals on the vertical axis and the independent variable on the horizontal axis. Moreover, the residual plot is a representation of how close each data point is (vertically) from the graph of the prediction equation of the regression model. If the data point is above or below the graph of the prediction equation of the model, then it is supposed to fit the data.

What is linear regression analysis?

Linear regression analysis is used to predict the value of a variable based on the value of another variable. The variable that you want to predict is referred to as the dependent variable. The variable that you are using to predict the other value is called the independent variable.

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What is Regression Analysis? Definition, Types, and Examples