Simple Linear Regression is a statistical regression model that estimates the relationship between an independent variable and dependent variable.
Simple Linear Regression Equation: \[ y = \beta_0 + \beta_1 x + \epsilon \]
Term Definitions:
- \(y\) is the independent variable
- \(x\) is the dependent variable
- \(\beta_0\) is the y-intercept
- \(\beta_1\) is the slope
- \(\epsilon\) is the error
- \(y\) is the independent variable