Simple linear regression is a statistical method used to examine the relationship between two quantitative variables.
\[ y = \beta_0 + \beta_1\cdot x + \varepsilon \] where:
- \(x\) = predictor variable
- \(y\) = response variable
- \(\beta_0\) = intercept
- \(\beta_1\) = slope
- \(\varepsilon\) = random error
- \(R^2\) = proportion of variation in the response explained by the model