Regression involves trying various modelsand selecting the best one based on its ability to explain the variability in the existing data.
What is regression analysis?
Regression analysis is a powerful statistical technique that allows you to investigate the relationship between two or more relevant variables.
Regression analysis takes many forms, but all of them focus on how one or more independent variables affect a dependent variable.
Regression analysis is a type of predictive modeling technique that examines the relationship between an independent variable (s) and a dependent variable (target) (predictor).
This method is used for forecasting, time series modeling, and determining the causal relationship between variables.
Regression analysis is classified into three types: linear, multiple linear, and nonlinear.
Simple linear and multiple linear models are the most prevalent types.