Steps on Simple Linear Regression
1. Determine whether or not assumptions underlying a linear relationship are met in the data available for analysis (Linearity, Independence¸ Normality, Homoscedasticity)
2. Obtain the equation for the line (y = mx + b) that best fits the sample data
3. Evaluate the equation to obtain some idea of the strength of the relationship and usefulness of the equation in predicting and estimating. Compute for the Coefficient of determination.
4. If data appear to conform satisfactorily to the linear model, use equation obtained from the sample data to predict and estimate