Think about things that matter to you in your personal life. For example, what would your salary be five years from now? What would the value of your home be next year? or the year after that? What would your savings balance be next year? What would your net worth be next year? How many miles would you have driven your car next year? One might be interested in predicting many such financial or other parameters that matter to you personally.

Take one such parameter. Understanding that regression modeling is developing a equation for prediction purposes, what would your equation look like? What would the dependent variable be? What would the independent variables be? What would be the direction (+ or -) of each of the coefficients? Layout the equation and explain it.