A simple linear regression line seeks to discover the correlation between one independent and one dependent variable. Usually, the x and y coordinates are displayed using a Cartesian coordinate system. Our task is to find the dependent variable value concerning the independent variable value. The “simple” in SLR indicates that the outcome variable is related to just one prognostic.
Here is a Simple Linear Regression Line: \(y = a + Bx\). The formula describes the sum of “a” hat as the y-intercept and the sum of “b” hat as the slope of a line.
The Simple Linear Regression equation is:
\[ y=\hat{a}+\hat{\beta}x\\ \]