Regression Analysis with R

Bayesian linear regression

In Chapter 3, More Than Just One Predictor – MLR, we have seen that the general Multiple Linear Regression (MLR) model for n variables is of the form:

Here, x₁, x₂,.. x_n are the n predictors and y is the only response variable. The coefficients β measure the change in the y value associated with a change of x_i, keeping all the other variables constant.

In order to estimate β, we minimized the following term:

The general linear regression model can be expressed using a condensed formulation:

Here, β =[β₀, β₁, β₂