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Regression Equation, Outliers

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When is a regression equation used? What terms describe the fit of a regression equation to the data? What is the importance of the coefficient of determination (r2)?

What are outliers? How do you identify outliers in your data? How do outliers impact your regression equation? Provide a regression equation which would be applicable to your place of business.

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(a) A regression equation is used to predict the value of a dependent variable (y) for a given value of an

independent variable (x)

The β coefficients and R^2 together characterize a regression model.

How well the data fit the regression equation is measured by the ...

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