Aaron, a friend of mine, is a little sloppy with money and is never able to estimate how much his monthly credit card bill will be. Can we do something to help him? Well, yes, linear regression can help us to predict a monthly credit card bill if we have sufficient data. Thanks to the digital economy, all of his monetary transactions for the last five years are available online. We extracted his monthly expenditure on groceries, stationery, and travel and his monthly income. Linear regression helped not only in predicting his monthly credit card bill, it also gave an insight into which factor was most responsible for his spending.
This was just one example; linear regression can be used in many similar tasks. In this section, we'll learn how we can perform linear regression on our data.
Linear regression is a supervised learning task. It...
