Machine learning basics
A simple model that predicts a number by adding up each input times its own weight, choosing the weights that fit past examples best.
Formal
A form of regression that predicts a number as a weighted sum of the features plus a fixed starting value, with the weights chosen to make the squared errors on the training data as small as possible.
In plain English
Like guessing the price of a flat from its size by drawing the straight line that passes as close as possible to all the flats you already know the price of.
In practice
A Danish energy company predicts next month's power use for each home from floor area, number of people and last year's use, and can read off how much each extra person adds.
Why it matters
It is fast, easy to check and easy to explain, so it is the baseline every more complex model must beat, and a common choice when a decision has to be justified.