Regression analysis

Regression analysis is a statistical modeling technique that is used for predicting or forecasting the occurrence of an event or the value of a continuous variable (dependent variable), based on the value of one or many independent variables. For example, when we want to drive from one place to another, there are numerous factors that affect the amount of time it will take to reach the destination, for example, the start time, distance, real-time traffic conditions, construction activities on the road, and weather conditions. All these factors impact the actual time it will take to reach the destination. As you can imagine, some factors have more impact than the others on the value of the dependent variable. In regression analysis, we mathematically sort out which variables impact the outcome, leading us to understand which factors matter most, which ones do not impact the outcome in a meaningful way, how these factors relate to each other, and mathematically, the quantified...