Predicted value of linear predictor.
Saves the linear combination of reference value corrected predictors times regression coefficients.

I don’t really know what it means… It would be a great help if you could …sort of gramartically regroup the words.

-> Saves (verb)
-> the linear combination of (object of saves)
-> reference-value-corrected (adjective modifier of predictors)
-> predictors (noun)
-> times (verb which means to multiply)
-> regression coefficients (noun)

Yes, I believe you have parsed it correctly. The only quibble is that the object of “saves” is really the whole of “the linear combination of reference value corrected predictors times regression coefficients”.

“reference-value-corrected” should be hyphenated, as you have suggested.

All except ‘times’.
‘times’ refers to ‘time interval data’.

reference-value-corrected: refers to the data transformation performed on each predictor, to prevent computer overflow when calculating exponentially.

First a reference value is chosen, and this is used as the basis of the transformation of data.

The end results is, we have the times (as in seconds/time by the clock) for predictors (e.g. failure times)…
the predictors having been corrected in accordance with the chosen reference values;
…regression coefficients then calculated…
…and some Save command saves/stores the linear combination of all these regression coefficients (presumably forming the basis of an algorithm) for future use.

If “predictors times regression cofficients” is supposed to mean “regression cofficients of the times of/for predictors” then it is incorrectly written. It should say “predictor time regression cofficients” (attributive nouns in English are singular, except in certain special cases).