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What is the meaning of analysis of covariance?
A mix of linear regression and analysis of variance. analysis of covariance is responsible for intergroup variance when analysis of variance is performed.
How is linear regression used?
Linear regression can be used in statistics in order to create a model out a dependable scalar value and an explanatory variable. Linear regression has applications in finance, economics and environmental science.
Is the line of best fit the same as linear regression?
Linear Regression is a method to generate a "Line of Best fit" yes you can use it, but it depends on the data as to accuracy, standard deviation, etc. there are other types of regression like polynomial regression.
What is the difference between simple and multiple linear regression?
I want to develop a regression model for predicting YardsAllowed as a function of Takeaways, and I need to explain the statistical signifance of the model.
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.
