Regression analysis is a quantitative research method which is used when the study involves modelling and analysing several variables, where the relationship includes a dependent variable and one or more independent variables. One of the main occasions where such analysis is used is to understand the relationship between independent variables and a dependent variable.
The basic form of regression models includes unknown parameters (β), independent variables (X), and the dependent variable (Y).
Regression model, basically, specifies the relation of dependent variable (Y) to a function combination of independent variables (X) and unknown parameters (β)
Y ≈ f (X, β) (1)
Regression equation can be used to predict the values of ‘y’, if the value of ‘x’ is given, and both ‘y’ and ‘x’ are the two sets of measures of a sample size of ‘n’. The formulae for regression equation would be