What is linear regression?
An example of an AI chatbot conversation about linear regression concepts and applications.
Can you explain what linear regression is?
Sure! Linear regression is a statistical method used to model the relationship between a dependent variable and one or more independent variables.
How does it work?
It works by fitting a linear equation to the observed data, minimizing the difference between the predicted and actual values.
What are some real-world applications of linear regression?
Linear regression is used in various fields, such as economics for predicting sales, in healthcare for estimating patient outcomes, and in social sciences for analyzing trends.
Are there any limitations to linear regression?
Yes, linear regression assumes a linear relationship and can be sensitive to outliers, which may affect the accuracy of predictions.
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