Political Science 3324F/G Lecture Notes - Lecture 11: Standard Deviation, Multicollinearity, Point Estimation
27 Mar 2019
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Regression is the relationship between two variables. Every additional km that i drive over the speed limit, the higher cost is going to be in a ticket. Ex. the older you get, the more likely you are to vote. Tted line represents the best line that you can put through your points to minimize the space between the points and the line. Minimize the given data points and the line itself. Lines on the outside are standard deviation. The line is the slope, the dotted lines are the con dence. How con dent we can be, that any observation is going to fall within 5 pp of the slope. When the value of the iv increases, it does nothing for the dv. The basic premise behind ordinary least squares (ols) regression is that a one-unit change in your iv should account for a one-unit (or two-unit, or three-unit) change in your dv.
