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What is a mathematical procedure that predicts the dependent variable on the basis of knowledge known about independent variables?
regression analysis
What is the role of the stochastic error term in regression analysis?
Regression analysis is based on the assumption that the dependent variable is distributed according some function of the independent variables together with independent identically distributed random errors. If the error terms were not stochastic then some of the properties of the regression analysis are not valid.
What is regression analysis?
In statistics, regression analysis is a statistical process for estimating the relationships among variables. It includes many techniques for modeling and analyzing several variables, when the focus is on the relationship between a dependent variable and one or more independent variables.
What regression method would be used when there is more than one independent variable?
multivariate regression
Requirements of regression analysis in statistics?
You may get more ideas from wikipedia under regression analysis. You can do a regression analysis with as little as 2 x,y points- but is it meaningful? Requirements for valid or meaningful relationships can be subjective. However, in my opinion, if meaningful relationships are to be created using regression analysis, the following are important: a) The independent variable should have values that are independent (no relation exists between them). b) There should be a good rational or experimental basis for identifying the independent variables and the resultant dependent variable. c) Sufficient data should be collected in a controlled environment to identify the relationship. d) The validity of the relationship should easy to identify both visually and by numbers (see "goodness of fit" tests).
