Regression is one of the oldest and yet quite powerful tools for mathematical modelling, classification, and prediction. Regression finds application in varied fields ranging from engineering, physical science, biology, and the financial market to social sciences. It is the basic tool in the hand of a data scientist.
Regression is normally the first algorithm that people in machine learning work with. It allows us to make predictions from data by learning the relationship between the dependent and independent variables. For example, in the case of house price estimation, we determine the relationship between the area of the house (independent variable) and its price (dependent variable); this relationship can be then used to predict the price of any house given its area. We can have multiple independent variables impacting the dependent variable. Thus, there are two...
