Different types of regression
This section will cover different types of regression:
- Linear regression: This is the oldest type and most widely known type of regression. In this the dependent variable is continuous and the independent variable can be discrete or continuous and the regression line is linear. Linear regression is very sensitive to outliers and cross-correlations.
- Logistic regression: This is used when the dependent variable is binary in nature (
0
or1
, success or failure, survived or died, yes or no, true or false). It is widely used in clinical trials, fraud detection, and so on. It does not require there to be a linear relationship between dependent and independent variables. - Polynomial regression: This implies of polynomial equation here the power of the independent variable is more than one. In this case the regression line is not a straight line, but a curved line.
- Ridge regression: This is a more robust version of linear regression and is used when data variables are highly...