Wherein, Y is the dependent variable, which is the presentation of an amount that diverges from one person to the other person throughout the populace. It is also to be noted here that this is a chief area of interest. X1,..., Xk are the explanatory variables or also known as independent variables. These also differ from one individual to the other and are considered to be related to Y. Last but not the least; ? is the residual term that presents the compound consequence of all other types of individual differences.
Now, the question arises, why regression analysis is done? I will answer this one for you. Well, a regression analysis is most often done for two reasons. One is to envisage the value of the dependent variable for people. Secondly, it is done to examine the effect of a certain expounding variable on the dependent variable.
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