A regression equation is used in stats to find out what relationship, if any, exists between sets of data. For example, if you measure a child’s height every year you might find that they grow about 3 inches a year. That trend (growing three inches a year) can be modeled with a regression equation. In fact, most things in the real world (from gas prices to hurricanes) can be modeled with some kind of equation; it allows us to predict future events.

This topic covers: Linear Regression, Applications in Pharmaceutical Industry, Correlation, Types of correlation, Perfect Positive Correlation, Perfect Negative Correlation, Moderately Positive Correlation, Moderately Negative Correlation, Absolutely No Correlation, Correlation coefficient, Applications in Pharmaceutical Industry, Types of correlation coefficient formulas, Pearson correlation coefficient, Spearman Rank Correlation.

Linear regression and correlation

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