A heavier car burns more fuel. Everyone knows that. The useful questions are sharper:
- How much more, per extra thousand pounds?
- How confident can we be in that number?
Simple linear regression answers both. We model the response \(Y\) as a straight line in the predictor \(x\), plus noise:
\[Y_i = \beta_0 + \beta_1 x_i + \varepsilon_i, \qquad i = 1, \dots, n\]
\[\varepsilon_i \ \stackrel{iid}{\sim}\ N(0, \sigma^2)\]
The slope \(\beta_1\) is the whole point: it is the expected change in \(Y\) for a one-unit increase in \(x\).