Define Simple Linear Regression Analysis?

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## nadeem

This answer was edited.Simple linear regression is a statistical method that allows us to summarize and study relationships between two continuous (quantitative) variables:

x, is regarded as the predictor, explanatory, or independent variable.y, is regarded as the response, outcome, or dependent variable.It is a statistical tool for quantifying the relationship between just one independent variable (hence “simple”) and one dependent variable based on past experience (observations).

For example, simple linear regression analysis can be used to express how a company’s storage cost (the dependent variable) changes as the company’s production doubles. (the independent variable) change.

The regression equation is written as Y = a + bX +e

Y= Dependent variable

a= alpha or constant

b= beta or coefficient of X

Xis the value of the Independent variable