Introduction
Laymen explanation
Suppose that you want to know to design a weight chart for kids. This chart will be used by parent to check if kids weight is good as he grows (increases height). To do this, one way is to observe weight of various healthy kids you will take samples of their height and weight. From this sample, you should be able to predict possible weight for those heights which are not mentioned in the sample. Linear regression technique helps in this regard
Technical explanation
Limitation of linear regression
Reference
https://onlinecourses.science.psu.edu/stat501/node/253
https://www.youtube.com/watch?v=ZkjP5RJLQF4