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Monday, April 3, 2017

What is Regression?


What is Regression analysis?
Regression is a statistical modelling for estimating a relationship between  a dependent variable and one or more independent variables.

Regression Modelling

Establishing a functional relationship between a set of Explanatory or independent variables(X1,X2,X3) with response or dependent variable Y


Types of Regression Model

1.OLS Regression
2.Exponential model
3.Logistic model(Binary/Multinomial)
4.Poission Model

Three Regresson Models(GLM)
GLM ( Generalised Linear Models)  extends the ordinary  linear regressin and allow the response variable y to have an error distribution other than the normal distribution.

What is OLS Regression Analysis?
OLS Regression basically try to draw the best fit regession line- a line such that the sum of the squared deviations of the distances of all the points to the line is minimized.

OLS regression models assumes that the underlying relationship between two variables  can best  be described by a   line.                                                                                                                                                      

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