This paper is divided into two major parts. The first part introduces the concept of building a multiple linear regression model and estimating parameters. Several techniques are available in the literature; however, we will focus mainly on the least squares approach. After building the model, the procedure of testing the assumptions and validating the model will be discussed in detail. Finally, we will explain how to use the model in prediction and forecasting. In the second part, a dataset related to a study conducted around the average automobile insurance rate is selected and used to ...