Linear regression models the relationship between two variables with a straight line. This equation predicts the value of \(y\) for a given value of \(x\), assuming a linear relationship between the variables. The equation for simple linear regression is: \[ y = \beta_0 + \beta_1 x + \epsilon \] Where:
- \(y\) is the dependent variable.
- \(x\) is the independent variable.
- \(\beta_0\) is the intercept.
- \(\beta_1\) is the slope coefficient.
- \(\epsilon\) is the error term.