MULT30018 Study Guide - Quiz Guide: Linear Regression, Regression Analysis

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Why do we use regression: correlation tells us the degree to which two variables are associated. Learn to apply the statistic, what can we answer. Closer data points to regression line, the higher the correlation will be. How close the data points are to the regression line. The coefficient just tells us this, and now what the regression li(cid:374)e a(cid:272)tually is. That(cid:859)s why it cannot help us predict quantities of one variable to another. Regression line is a predictive line, can help us predict one variable to another: correlation coefficient: no predictions, only understanding cluster of variables. Why use regression: allows us to estimate the value of one variable if we know the value of another. It does this by providing the regression line, which allows us to see the elected change in one variable which corresponds to the change of another: can predict.

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