Linear Regression Formula. The idea behind finding the best fit line is based on the assumption that the data are scattered about a straight line. Y a bx ϵ.
The process of fitting the best fit line is called linear regression. The very most straightforward case of a single scalar predictor variable x and a single scalar. Y a bx ϵ.
But remember in statistics the points don t lie perfectly on a line the line is a model around which the data lie if a strong linear pattern exists.
On an excel chart there s a trendline you can see which illustrates the regression line the rate of change. The process of fitting the best fit line is called linear regression. Linear regression equation linear regression formula. Specifically the interpretation of β j is the expected change in y for a one unit change in x j when the other covariates are held fixed that is the expected value of the partial.
