Linear models describe a continuous response variable as a function of one or more predictor variables. They can help you understand and predict the behavior of complex systems or analyze experimental, financial, and biological data.
Linear regression is a statistical method used to create a linear model. The model describes the relationship between a dependent variable \(y\) (also called the response) as a function of one or more independent variables \(X_i\) (called the predictors). The general equation for a linear model is:
\[y = \beta_0 + \sum \ \beta_i X_i + \epsilon_i\]
where \(\beta\) represents linear parameter estimates to be computed and \(\epsilon\) represents the error terms.
There are several types of linear regression:
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