The primary tool for determining whether the assumptions made about the regression model are appropriate is residual analysis.
Regression analysis is a collection of statistical techniques used in statistical modelling to estimate the associations between a dependent variable and one or more independent variables. Regression analysis is a mathematical method for determining which of those factors has an effect.
Regression analysis is an effective statistical tool for examining the connection between two or more variables of interest. When the dependent and independent variables are connected in a linear or nonlinear form and the goal variable has a set of continuous values, it is extensively employed. As a result, regression analysis methodologies aid in the establishment of causal links between variables, as well as in the modelling of time series and forecasting.
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