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Regression Line Equation and Coefficient of Determination - Excel definitions

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  • Regression Line
    A straight line on a scatterplot that best predicts the response variable using the explanatory variable.
  • Coefficient of Determination
    A value, often shown as R-squared, indicating the proportion of variation in the response variable explained by the explanatory variable.
  • Scatterplot
    A chart displaying paired data points, used to visualize the relationship between two variables.
  • Trend Line
    A line added to a scatterplot to show the general direction or pattern of the data.
  • Explanatory Variable
    A variable used to predict or explain changes in another variable, often plotted on the x-axis.
  • Response Variable
    A variable whose variation is being studied and predicted, typically shown on the y-axis.
  • Linear Correlation
    A relationship between two variables where data points tend to follow a straight-line pattern.
  • Y-intercept
    The value where the regression line crosses the y-axis, representing the predicted response when the explanatory variable is zero.
  • Slope
    A measure of how much the response variable changes for each unit increase in the explanatory variable.
  • R-squared
    A statistical measure, ranging from 0 to 1, that quantifies how well the regression line fits the data.
  • Chart Elements
    Features in Excel charts, such as titles, axes, and trend lines, that enhance data interpretation.
  • Data Variation
    The extent to which data points differ from each other within a dataset.
  • Predictive Analytics
    The use of statistical techniques to forecast future values based on current and historical data.
  • Axis Titles
    Labels on chart axes that clarify what each axis represents, aiding in graph interpretation.
  • Rounding
    The process of adjusting numerical values to a specified degree of precision for easier interpretation.