What will be the reason behind for sharing my views on Regression? This is an abstract concept generally, but if we try to learn we can achieve it. There are many examples and explanations present in the internet but I am going to share one example particularly because I understood this concept after learning this example. This term makes us to understand some relationships between some quantities.
REGRESSION:- It is a statistical method that helps us to understand the relationship between two or more variables of interest. It makes us understand which factors are important, which factors can be ignored and their influencing character. In a simple way, how does the value ‘Y’ change with respect to in ‘X’.
REGRESSION AND DATA VISUALIZATION are the key elements for people to get their message to people who don’t understand well about Data Science.
EXAMPLE:- The moment when we sit in a CAB or Taxi ride, there is a fixed amount say some dollars. That’s a constant you have to pay if you have step into a Cab.
For every hundred meters the fare increases by certain amount. Hence, there is a relationship between distance and amount. If you struck in a traffic, for every additional minute amount to pay increases. RELATION:-
AS MINUTES INCREASES, FARE INCREASES
AS DISTANCE INCREASES, FARE INCREASES
Already fare paid is constant. This is REGRESSION. In the absence of knowing those relationships, Regression helps us to compute that constant fare we didn’t know. It would compute relationships between time, distance and the fare.
This concept was beautifully explained by Professor Muratza Haider of Ryerson University in a video lecture. (EDX COURSE).
