Simple Linear Regression (or SLR for short) can be thought of as a type of analysis that builds upon a correlation analysis. In addition to helping us determine the strength, direction, and significance of linear association between two variables, it can also help us to:
- Interpret the linear relationship between two variables more precisely
- Estimate a linear model (or 'line of best fit')
- Use this model to make predictions
We will consider these concepts in the following sections.