Stepwise regression
Stepwise regression is an automated procedure that adds or removes explanatory variables from a multiple regression one at a time, based on a statistical criterion, to search for a parsimonious model among many candidates.
See it move
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Predicting rental price from five candidates, forward selection starts empty, then adds floor size first since it alone explains most variation (R² = 0.55). Distance to the city centre enters next, lifting R² to 0.72 with p = 0.01. Bedrooms is tried but only reaches p = 0.35, well above the 0.05 threshold, so it stays out of the final model.
Where it fits
SubjectData Analysis & StatisticsAdvancedTopicMultiple Regression & InterpretationAdvanced