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Forum on Regression Analysis
ANSWER
Simple linear regression is a model that assesses the relationship between a dependent variable and an independent variable.
The simple linear model is expressed using the following equation:
Y = β0+ β1X i+ εi
Xi Is independent Yi is dependent.
Example : Between income and happiness. Survey OF 600 people whose incomes range from $25k to $85k and ask them to rank their happiness on a scale from 1 to 10.
Here the independent variable (income) and dependent variable (happiness) are both quantitative.