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Alpha is not generally used in regression analysis. Alpha in statistics is the significance level. If you use a TI 83/84 calculator, an "a" will be used for constants, but do not confuse a for alpha. Some may, in derivation formulas for regression, use alpha as a variable so that is the only item I can think of where alpha could be used in regression analysis.
Added:
Though not generally relevant when using regression for prediction, the significance level is important when using regression for hypothesis testing.
Also, alpha is frequently and incorrectly confused with the constant "a" in the regression equation Y = a + bX where a is the intercept of the regression line and the Y axis. By convention, Greek letters in statistics are sometimes used when referring to a population rather than a sample. But unless you are explicitly referring to a population prediction, and your field of study follows this convention, "alpha" is not the correct term here.
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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 heteroscadacity?
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