Regression model predicts the relational ship between the dependable variable and independent variable. Regression model is helps to find the value of dependable variable based on the independent variable. The simplest form of regression model is linear regression.
Linear Regression is used to predict the relationship between the two quantitative variables to find the best fitted linear line is also called as Regression line. The variable we are predicting is called criterion variable as dependent variable(y-axis).The variable we are basing for our predicting is called predicator variable as independent variable.(x-axis).The simple linear regression equation is y=b*X+a
Here we going to understand the relationship between the Energy bill as dependent variables (x-axis)and average Temperature as independent variable (y-axis)
Energy bills(in $) Temperature(F)
The best line of fit is y = -1.20125x + 115.20286
The graph below for verification.