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    Regression

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    RAJU SHATHABOINA
    Regression analysis is a statistical technique used to model and understand relationships between variables. It allows one to predict the value of a dependent variable based on the value of one or more independent variables. Sir Francis Galton pioneered the use of regression in the 19th century. Regression has many real-world applications including predicting house prices, sales, academic performance, customer satisfaction, and stock prices based on relevant independent variables. There are different types of regression models like simple linear regression, multiple linear regression, polynomial regression, and logistic regression that can be applied depending on the problem.

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    Regression

    Uploaded by

    RAJU SHATHABOINA
    4 views3 pages
    Regression analysis is a statistical technique used to model and understand relationships between variables. It allows one to predict the value of a dependent variable based on the value of one or more independent variables. Sir Francis Galton pioneered the use of regression in the 19th century. Regression has many real-world applications including predicting house prices, sales, academic performance, customer satisfaction, and stock prices based on relevant independent variables. There are different types of regression models like simple linear regression, multiple linear regression, polynomial regression, and logistic regression that can be applied depending on the problem.

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    Regression analysis is a statistical technique used to model and understand relationships between variables. It allows one to predict the value of a dependent variable based on the value of one or more independent variables. Sir Francis Galton pioneered the use of regression in the 19th century. Regression has many real-world applications including predicting house prices, sales, academic performance, customer satisfaction, and stock prices based on relevant independent variables. There are different types of regression models like simple linear regression, multiple linear regression, polynomial regression, and logistic regression that can be applied depending on the problem.

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    4 views3 pages

    Regression

    Uploaded by

    RAJU SHATHABOINA
    Regression analysis is a statistical technique used to model and understand relationships between variables. It allows one to predict the value of a dependent variable based on the value of one or more independent variables. Sir Francis Galton pioneered the use of regression in the 19th century. Regression has many real-world applications including predicting house prices, sales, academic performance, customer satisfaction, and stock prices based on relevant independent variables. There are different types of regression models like simple linear regression, multiple linear regression, polynomial regression, and logistic regression that can be applied depending on the problem.

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    Regression Analysis:

    Regression refers to a statistical analysis technique used to model and understand


    the relationship between a dependent variable and one or more independent
    variables. It helps predict or estimate the value of the dependent variable based on
    the independent variable(s). Sir Francis Galton, a British scientist who made
    significant contributions to statistics and data analysis in the late 19th and early
    20th centuries. Galton coined the term "regression" and explored the relationship
    between variables, particularly in the context of heredity and human traits.

    Here are some real-life examples of regression:

    1. House prices: In the real estate market, regression analysis can be used to
    predict house prices based on independent variables such as square footage,
    number of bedrooms, location, and other factors that influence property values. By
    analyzing historical data, regression models can provide insights into how these
    variables affect house prices.

    2. Sales forecasting: Regression analysis is commonly used in sales forecasting to


    predict future sales volume based on factors like advertising expenditure, pricing,
    economic indicators, and past sales data. By analyzing the relationship between
    these variables, businesses can make informed decisions about resource allocation
    and marketing strategies.

    3. Academic performance: Regression analysis can be applied to understand the


    impact of various factors on student performance. Independent variables such as
    study time, attendance, extracurricular activities, and socioeconomic background
    can be used to predict a student's academic performance, such as their GPA or
    exam scores.

    4. Customer satisfaction: Regression analysis can be used to analyze customer


    satisfaction and identify the key drivers influencing it. Independent variables like
    product quality, customer service, price, and delivery time can be used to predict
    customer satisfaction scores and guide businesses in improving their products or
    services.

    5. Stock market analysis: Regression analysis can help analyze stock market
    trends and predict stock prices. Independent variables such as company
    performance, economic indicators, and market factors can be used to forecast
    future stock prices and guide investment decisions. These examples illustrate how
    regression analysis can be applied in various real-life scenarios to understand
    relationships between variables and make predictions or estimations based on those
    relationships.

    Types of Regression:

    1. Simple Linear Regression: Imagine you want to predict a person's weight


    (dependent variable) based on their height (independent variable). By collecting
    data on the heights and weights of a sample of individuals, you can use simple
    linear regression to model the relationship between height and weight. This can
    help you make predictions about someone's weight based on their height.

    2. Multiple Linear Regression: Suppose you own a real estate agency and want to
    estimate the selling price of a house (dependent variable) based on various factors
    such as square footage, number of bedrooms, and location (independent variables).
    By analyzing historical sales data, you can use multiple linear regression to create
    a model that predicts the selling price of a house based on these factors.

    3. Polynomial Regression: In the field of finance, you might be interested in


    predicting stock market trends. By using polynomial regression, you can capture
    nonlinear relationships between variables and create a model that predicts stock
    prices based on factors like historical data, market sentiment, and economic
    indicators.

    4. Logistic Regression: Let us say you work in the healthcare industry and you
    want to predict whether a patient will develop a certain disease or not (binary
    outcome). By gathering data on various risk factors like age, family history, and
    lifestyle choices, you can use logistic regression to build a model that predicts the
    probability of a patient developing the disease.

    5. Ridge Regression: Consider a scenario where you are analyzing customer


    satisfaction in an e-commerce business. You have multiple independent variables
    such as shipping time, product quality, and customer support, but some of these
    variables are highly correlated. Ridge regression can help you build a model that
    considers the intercorrelations and provides more reliable estimates of the impact
    of each variable on customer satisfaction.

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