What are Regression Coefficients?
Regression coefficients are estimations of unknown parameters that describe the connection between a predictor variable and its associated response.
In other words, regression coefficients are used to estimate the value of an unknown variable based on a known variable.
Linear regression is used to measure how a unit change in an independent variable affects the dependent variable by calculating the equation of the best-fitted straight line. This method is referred to as regression analysis.
Regression Coefficients
Regression coefficients in linear regression are the amounts by which variables in a regression equation are multiplied. Linear regression is the most commonly used form of regression analysis. Linear regression aims to determine the regression coefficients that result in the best-fitting line. These coefficients are helpful when estimating the value of an unknown variable using a known variable. This article explains regression coefficients and their formulas and provides related examples.
Table of Content
- What are Regression Coefficients?
- Regression Line
- Formula for Regression Coefficients
- Regression Coefficients Interpretation
- Steps to Calculate the Regression Coefficient
- Regression Coefficients in Different Types of Regression Models
- Solved Examples on Regression Coefficients