One of the assumptions of the Classical Linear Regression Model (CLRM) is that the explanatory variable X has no perfectly linear relationship. In other words, there should be no perfect
In the previous post, we discussed how to estimate a sample regression model, i.e., and . by applying the OLS method on sample data, both in simple and multiple linear
Goodness of Fit So far, we have no way of measuring how well the explanatory or independent variable, X, explains the dependent variable, Y. In other words, we must know
Simple Linear Regression Model Simple Linear Regression Model is used to estimate the relationship between one dependent and one independent variable. It is also called bivariate or two variable regression
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