From the course: Tableau and R for Analytics Projects

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Linear regression and multiple regression models

Linear regression and multiple regression models

From the course: Tableau and R for Analytics Projects

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Linear regression and multiple regression models

- [Instructor] Linear regression models identify trends in your data whether that is sales over time, the time between orders, or the number of orders a customer makes versus the total that they spend. The idea is that you want to find the line of best fit to describe a dataset. The procedure generates an equation used to draw a line that can be used to predict future values. The idea behind this procedure is to minimize the total errors over all points. These are called the residuals and it is the squared total of the distance of all dots from the line, which you'll see in a moment. And as I mentioned, you can perform linear regression with a single variable, which is usually just called linear regression, or with several variables, which is called multiple regression. Now let's take a look at what a linear regression looks like. This chart plots total value of sales versus the number of orders that a customer…

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