Simple linear regression is a statistical method used to model the relationship between two continuous variables: one independent (predictor) and one dependent (response). It assumes a straight-line relationship of the form:
Y = β₀ + β₁X + ε
where:
- Y is the response variable
- X is the predictor
- β₀ is the intercept
- β₁ is the slope
- ε is the error value