Regression Analysis Flashcards
6 cards from real FAST practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Regression Analysis flashcards as text
What is the purpose of linear regression analysis?
Answer: To model the relationship between a dependent variable and one or more independent variables
Linear regression models the linear relationship between variables, enabling prediction and understanding of variable relationships.
What does R-squared (R²) measure?
Answer: The proportion of variance in the dependent variable explained by the independent variables
R² indicates how well the independent variables explain the variability in the dependent variable, ranging from 0 to 1.
What is multicollinearity?
Answer: High correlation among independent variables in a regression model
Multicollinearity occurs when independent variables are highly correlated, making it difficult to isolate individual effects.
What is the purpose of residual analysis in regression?
Answer: To check whether the assumptions of the regression model are met
Residual analysis examines the differences between observed and predicted values to validate model assumptions.
What assumption must be met for ordinary least squares regression?
Answer: Residuals should be normally distributed with constant variance
OLS regression assumes normality and homoscedasticity of residuals, linearity, and independence of observations.
What is the difference between simple and multiple regression?
Answer: Simple regression has one predictor; multiple regression has two or more predictors
Simple regression uses one independent variable while multiple regression includes two or more independent variables.