What is another term for regression analysis?

Regression analysis is often referred to as "the line of best fit" because it involves finding a mathematical equation that best represents the relationship between a dependent variable and one or more independent variables. This line is essentially the graphical representation of the regression equation that minimizes the distance between itself and the actual data points, capturing trends in the data. By plotting this line through the dataset, one can visually assess how well the model predicts outcomes based on the independent variables.

The other terms mentioned do not accurately capture the essence of regression analysis. Statistical inference refers to the process of drawing conclusions about a population based on sample data. A causal relationship indicates that one variable directly affects another, which is a broader concept that may or may not be established through regression analysis. Data clustering involves grouping similar data points together based on their characteristics, which is distinct from the predictive focus of regression analysis. Thus, referring to regression analysis as "the line of best fit" aptly describes its fundamental purpose and methodology.