What are the key steps to create a regression model using a crate regression technique?

Answer 1

To create a regression model using a crate regression technique, follow these key steps:

1. Define the research question and identify the variables of interest.
2. Collect and prepare the data, ensuring it is clean and organized.
3. Choose the appropriate regression model based on the type of data and research question.
4. Split the data into training and testing sets for model evaluation.
5. Fit the regression model to the training data and assess its performance.
6. Evaluate the model using statistical metrics and adjust as needed.
7. Use the model to make predictions and interpret the results.