![]() ![]() George Box (2007) states, “all models are approximations. The independent variable (X) is also referred to as the predictor variable. 1Ī regression model is a formal means of expressing the general tendency of a dependent variable (Y) to vary with the independent variable (X) systematically. It is commonly accepted that the term “regression” describes the statistical, not the functional, relationship between variables. For example, cholesterol levels and body weight have a non-perfect fit. Statistical relationships typically do not have perfect fits. For example, ice cream cones cost $1 each, so one can buy 10 ice cream cones for $10 or 20 ice cream cones for $20. Functional relationships have perfect fits. These relationships are either functional or statistical. Regression analysis utilizes the relationship between quantitative variables to predict one variable from one or more other variables. ![]()
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