What does Regression Analysis mean? Read on to discover the definition & meaning of the term Regression Analysis - to help you better understand the language used in insurance policies.
A statistical tool for predicting one variable (known as the dependent variable) based on its relationship with one or more other variables (known as independent variables). For example, the dependent variable of workers compensation losses is often predicted on the basis of the independent variable of workers compensation payroll.
We hope the you have a better understanding of the meaning of Regression Analysis.