A process by which we estimate the value of dependent variable on the basis of one or more independent variables is called:

Correlation

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Regression

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Residual

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Slope

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Solution

The correct option is B Regression
$\Rightarrow$ A process by which we estimate the value of dependent variable on the basis of one or more independent variables is called: $R e g r e s s i o n$ .
$\Rightarrow$ More specifically, regression analysis helps one understand how the typical value of the dependent variable (or 'criterion variable') changes when any one of the independent variables is varied, while the other independent variables are held fixed.
$\Rightarrow$ Regression takes a group of random variables, thought to be predicting $Y$ , and tries to find a mathematical relationship between them.

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