Describe What Regression Is and What It Is Used For

question 12

Essay

Describe what regression is and what it is used for.

---

Definitions:

Trade With China

The commercial exchanges between China and other countries, encompassing goods, services, technology, and cultural products, pivotal for global economic dynamics.

Jefferson's Agrarian Vision

Thomas Jefferson's ideal of a democracy supported by the widespread ownership of small farms, valuing agrarian life as the backbone of the American economy and democracy.

Missouri Compromise

An 1820 agreement in the United States Congress that admitted Missouri as a slave state and Maine as a free state, maintaining the balance of power between North and South in the Senate.

Panic of 1819

The Panic of 1819 was the first widespread economic crisis in the United States, which occurred after a period of high foreign demand for American goods and expansive lending practices ended, leading to widespread financial distress.