Variables – three key types
Now here’s an easy one: What is a variable? It is simply something that varies – either its value or it’s characteristic. In fact, it must vary. If it does not vary then we can’t call it a VARiable, so we call it a “constant” such as the regression constant (the y-intercept). In the equation of a straight line (linear relationship) Y = a + bX, where: Y=dependent variable X=independent variable a=constant (the Y-axes intercept, or the value of Y when X=0) b=coefficient (slope of the line, in other words the amount that Y increases [READ MORE]