PSY202H1 Study Guide - Final Guide: Linear Regression, Squared Deviations From The Mean, Pearson Product-Moment Correlation Coefficient
Document Summary
Beta is equal to the pearson correlation r. Because how accurate the prediction is depending on how well the points on the regression line corresponding to the real data. The regression line that we calculated are the least squared error, but this still depends on the natural of the point. If the points are originally close and trended like a line, you give a regression line much like it, then it will be a good fitting line compares to a graph that has dots all over. Regression equation only allows us to make predictions but does not tell us anything about the accuracy of those predictions. We will compute the standardized error of estimate. The standard error of estimate is a measure of the standard distance between the predicted y-values on the regression line and the actual y-values in the set of data.
