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Regression Analysis

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Regression Analysis

Regression analysis is statistical tool used to compare relationships between dependent and independent variables. It is possibly one of the most widely used statistical techniques.

Regression analysis helps to identify and understand how the typical value of the dependent variable changes when any one of the independent variables changes, whilst the other independent variables are kept fixed (e.g population and income).

Regression analysis can also be known as curve fitting or line fitting, the nature of regression analysis means the equation can be used in fitting a curve or a line to data points. Usually, regression analysis is used with naturally-occurring variables, as opposed to experimentally manipulated variables.

Regression analysis is a tool commonly used in prediction and financial forecasting. Part of regression analysis will also involve assessing the statistical significance of the relationships.

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