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Regression Modeling with Actuarial and Financial Applications by Edward W. Frees

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2

Basic Linear Regression

Chapter Preview. This chapter considers regression in the case of only one explanatory variable. Despite this seeming simplicity, most of the deep ideas of regression can be developed in this framework. By limiting ourselves to the one variable case, we are able to express many calculations using simple algebra. This will allow us to develop our intuition about regression techniques by reinforcing it with simple demonstrations. Further, we can illustrate the relationships between two variables graphically because we are working in only two dimensions. Graphical tools prove important for developing a link between the data ...

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