2.1 - Equation
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Practice Questions
Test your understanding with targeted questions
What does the variable y represent in the regression equation?
💡 Hint: Think of what you want to measure.
What is the purpose of the intercept (β0)?
💡 Hint: What happens when your predictor is at its base level?
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Interactive Quizzes
Quick quizzes to reinforce your learning
What does the slope β1 indicate in a regression equation?
💡 Hint: Think about how y responds to changes in x.
TRUE or FALSE: The intercept β0 represents the point where the regression line crosses the x-axis.
💡 Hint: Consider the y-values when x is zero.
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Challenge Problems
Push your limits with advanced challenges
Consider a regression equation: y = 5 + 4x + ε. If x represents years of education, interpret the value of the slope.
💡 Hint: Think about how education transforms other variables in real life.
Given a scenario where we are using linear regression to predict offline sales based on in-store promotions, if the intercept β0 is 50, interpret what this means in practical terms.
💡 Hint: What does the base figure suggest about your business model?
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