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4 cards from this section. Quick, good the night before a test.
What does the variable y represent in the regression equation?
Think of what you want to measure.
What is the purpose of the intercept (β0)?
What happens when your predictor is at its base level?
What does the slope β1 indicate in a regression equation?
Think about how y responds to changes in x.
TRUE or FALSE: The intercept β0 represents the point where the regression line crosses the x-axis.
Consider the y-values when x is zero.
Consider a regression equation: y = 5 + 4x + ε. If x represents years of education, interpret the value of the slope.
Think about how education transforms other variables in real life.
Given a scenario where we are using linear regression to predict offline sales based on in-store promotions, if the intercept β0 is 50, interpret what this means in practical terms.
What does the base figure suggest about your business model?
4 more questions in this section. Enroll free to practise them all.
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