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Regression Analysis

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Regression Analysis

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Regression Analysis

• Regression analysis is a set of statistical methods used for the estimation of relationships
between a dependent variable and one or more independent variables. It can be utilized to
assess the strength of the relationship between variables and for modeling the future
relationship between them.
• What does a regression analysis tell you?
• In statistical analysis, regression is used to identify the associations between variables occurring
in some data. It can show both the magnitude of such an association and also determine its
statistical significance (i.e., whether or not the association is likely due to chance).
• What are the 4 types of regression analysis?
• 13 regression types
• Simple regression. Simple regression methods help you estimate the relationship between a
dependent variable and one independent variable. ...
• Multiple regression. ...
• Linear regression. ...
• Multiple linear regression. ...
• Logistic regression. ...
• Polynomial regression. ...
• Jackknife regression
• What is the main purpose of regression analysis?
• Typically, a regression analysis is done for one of two purposes: In order to
predict the value of the dependent variable for individuals for whom some
information concerning the explanatory variables is available, or in order to
estimate the effect of some explanatory variable on the dependent variable.
• What is regression analysis explain with example?
• Regression analysis can help identify which independent variables
significantly impact the dependent variable. For example, it can determine
which marketing channels or advertising strategies influence sales most,
allowing businesses to allocate resources more effectively
• What type of regression to use?
• Linear models are the most common and most straightforward to use. If you
have a continuous dependent variable, linear regression is probably the first
type you should consider. There are some special options available for linear
regression.
Linear regression
• Linear regression analysis is used to predict the value of a variable
based on the value of another variable. The variable you want to
predict is called the dependent variable. The variable you are using to
predict the other variable's value is called the independent variable.
• The formula is Y = a + b X , in which Y is dependent, X is independent,
b is slope and a is intercept. Multiple linear regression – This is a case
where there is a linear relation between one dependent variable (Y)
and many independent variable (X1, X2…. Xn). The formula is Y = a +
b1X1 + b2X2 + …
Logistic regression
• Logistic regression is a process of modeling the probability of a
discrete outcome given an input variable. The most common logistic
regression models a binary outcome; something that can take two
values such as true/false, yes/no, and so on.
• What is the logistic regression used for?
• Logistic regression is commonly used for prediction and classification
problems. Some of these use cases include: Fraud detection: Logistic
regression models can help teams identify data anomalies, which are
predictive of fraud.
• What are the 3 types of logistic regression?
• There are three main types of logistic regression: binary, multinomial and
ordinal. They differ in execution and theory. Binary regression deals with two
possible values, essentially: yes or no. Multinomial logistic regression deals
with three or more values.
• Why is it called logistic regression?
• Logistic Regression is one of the basic and popular algorithms to solve a
classification problem. It is named 'Logistic Regression' because its underlying
technique is quite the same as Linear Regression. The term “Logistic” is taken
from the Logit function that is used in this method of classification.
• What is the difference between linear regression and logistic regression?
• Linear regression is used for continuous outcome variables (e.g., days of
hospitalization or FEV1), and logistic regression is used for categorical outcome
variables, such as death. Independent variables can be continuous, categorical,
or a mix of both.
• What is an example of logistic regression?
• Logistic Regression
• Business example: For an online retailer, you need to predict which product a particular
customer is most likely to buy. ...
• Medical example: You want to investigate whether a person is susceptible to a certain
disease or not. ...
• Political example:
• What is a real life example of logistic regression?
• Logistic regression is used to calculate the probability of a binary event occurring, and
to deal with issues of classification. For example, predicting if an incoming email is
spam or not spam, or predicting if a credit card transaction is fraudulent or not
fraudulent.
• Why is it better to use logistic regression?
• Logistic regression is useful when the response variable is binary but the explanatory
variables are continuous. This would be the case if one were predicting whether or not
an customer is a good credit risk, using information on their income, years of
• What is the advantage of logistic regression?
• Once the model is trained, it can be used to make predictions for new data by
calculating the probabilities of the input variables. This makes logistic
regression a powerful and widely used tool in machine learning for making
predictions and understanding the relationships between input variables and
binary outcomes.
• Which type of logistic regression to use?
• The ordinal logistic regression model is a better choice than the multinomial
model when there's a natural ordering to the outcomes. In the example of
predicting customer satisfaction, it makes more sense to use an ordinal
model because satisfaction ratings of four and five are naturally higher than a
three.
• What is better than logistic regression?
• For identifying risk factors, tree-based methods such as CART and conditional
inference tree analysis may outperform logistic regression
• How to interpret logistic regression?
• Analysts often prefer to interpret the results of logistic regression using
the odds and odds ratios rather than the logits (or log-odds) themselves.
Applying an exponential (exp) transformation to the regression
coefficient gives the odds ratio; you can do this using most hand
calculators.
• What is a key characteristic of logistic regression?
• Logistic regression predicts the output of a categorical dependent
variable. Therefore, the outcome must be a categorical or discrete value.
It can be either Yes or No, 0 or 1, true or False, etc. but instead of giving
the exact value as 0 and 1, it gives the probabilistic values which lie
between 0 and 1
• What is the difference between regression and logistic?
• Linear regression is used to predict the continuous dependent
variable using a given set of independent variables. Logistic
Regression is used to predict the categorical dependent variable using
a given set of independent variables. Linear Regression is used for
solving Regression problem.
choice and cautions in
regression analysis
• What cautions should people be aware of when using regression
models to make predictions?
• Make Predictions Only Within the Range of the Data

Regression predictions are valid only for the range of data used to
estimate the model. The relationship between the independent
variables and the dependent variable can change outside of that
range. In other words, we don't know whether the shape of the curve
changes.
• What are the 4 conditions for regression analysis?
• Linearity: The relationship between X and the mean of Y is linear.
Homoscedasticity: The variance of residual is the same for any value of X.
Independence: Observations are independent of each other. Normality: For
any fixed value of X, Y is normally distributed.
• What are the mistakes in regression analysis?
• Avoid These Common Regression Analysis Mistakes

Using linear regression instead of nonlinear regression. Confusing linear


regression with correlation. Fitting a model to smoothed data. Incorrectly
removing outliers.
• How do you choose a regression?
• You need to choose the model that has the highest performance metrics, the
lowest complexity, and the best interpretability. You also need to consider the
trade-offs between these factors, as well as your goal and context.
• What are the two important things to keep in mind while dealing with
regression analysis?
• In order to understand regression analysis fully, it's essential to
comprehend the following terms: Dependent Variable: This is the
main factor that you're trying to understand or predict. Independent
Variables: These are the factors that you hypothesize have an impact
on your dependent variable.

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