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Multiple Regression - Excel definitions

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  • Multiple Regression
    Statistical method analyzing how several independent variables collectively influence a single dependent variable.
  • Independent Variable
    Factor in a dataset whose values are used to predict or explain changes in another variable.
  • Dependent Variable
    Outcome in a dataset whose variation is explained by other factors.
  • Regression Coefficient
    Numeric value indicating the strength and direction of the relationship between a predictor and the outcome.
  • Y Intercept
    Constant term in a regression equation representing the predicted value when all predictors are zero.
  • Coefficient of Determination
    Statistic showing the proportion of variation in the outcome explained by the predictors.
  • Adjusted Coefficient of Determination
    Statistic reflecting the proportion of explained variation, adjusted for the number of predictors in the model.
  • Data Analysis Toolpak
    Excel add-in providing advanced statistical functions, including regression analysis.
  • Model Fit
    Measure of how well a statistical model represents the observed data.
  • Relevant Variable
    Predictor that logically and statistically contributes to explaining variation in the outcome.
  • Irrelevant Variable
    Predictor lacking meaningful connection to the outcome, often reducing model quality.
  • Linear Correlation
    Relationship where changes in one variable are associated with proportional changes in another.
  • Equation
    Mathematical expression summarizing the relationship between predictors and outcome in regression.
  • Penalty
    Adjustment in statistical calculations to account for the inclusion of additional predictors.
  • Double Dipping
    Situation where multiple predictors provide overlapping information, reducing model efficiency.