What is alpha in regression analysis?

Answer 1

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.