expected value formula

Expected Value

Expected Value is the average value we get for a certain Random Variable when we repeat an experiment a large number of times. It is the theoretical mean of a Random Variable. Expected Value is based on population data. Therefore it is a parameter.

regression line

Simple Linear Regression

Simple Linear Regression is used to model the relationship between one predictor variable and one response variable. This is called ‘linear because the said relationship can be expressed in the form of the equation ‘y = mx + x”. And it is called ‘Simple’ because only one Predictor Variable is involved.