Abstract
In many modeling problems, a response variable is modeled as a function of one or more independent or explanatory variables. The linear function of the explanatory variables along with a random error term has been found useful and applicable to many problems, for example, the weight of a newborn human baby as a function of the circumference of her head or shoulder, the price of crude oil as a function of currency exchange rates, the length of elongation of a weighing spring as a function of the loaded weight, and whatnot. Many such and similar problems are modeled using a linear model.
Everything should always be made as simple as possible, but not simpler
– A. Einstein
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Madhyastha, N.R.M., Ravi, S., Praveena, A.S. (2020). Linear Estimation. In: A First Course in Linear Models and Design of Experiments. Springer, Singapore. https://doi.org/10.1007/978-981-15-8659-0_1
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DOI: https://doi.org/10.1007/978-981-15-8659-0_1
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Online ISBN: 978-981-15-8659-0
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