Toolkit: Simple linear regression
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The main purpose of simple linear regression is to demonstrate correlation and extrapolate the trends.
Just a reminder to keep a record of all the tools in the table below. As long as you can fill in all the cells of the table, you will be able to write a successful IA.
How to
Simple linear regression refers to techniques to predict relationships between two variables (for example, costs and revenues). The IB BM syllabus includes four simple linear regression techniques: scatter diagram, line of best fit, correlation, and extrapolation. If you look at the picture below, you are very likely to understand how each of the four techniques works. If you need more information, continue reading.
A scatter diagram includes a table and graph that represent...