Discuss the concept of Linear regression and its utility in context of machine learning.

Linear regression is a fundamental statistical technique and a building block of machine learning algorithms used for predictive modeling and data analysis. It seeks to model the relationship between a dependent variable (also known as the target) and one or more independent variables (predictors) by fitting a linear equation to observed data. The primary goal of linear regression is to find the best-fitting line that minimizes the sum of the squared differences between the predicted and actual values of the dependent variable.

The linear regression equation can be represented as:
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