1. What is the correct interpretation for the correlation coefficient r = 0? a. A linear relationship exists between the variables. b. No linear relationship exists between the variables. c. A relationship exists between the variables. d. No relationship exists between the variables. 2. What is the correct interpretation for the correlation coefficient r =1? a. The scatter plot contains points that all lie on a line with negative slope. b. The scatter plot contains points which show no discernable relationship. c. The scatter plot contains points that all lie on a line with positive slope. d. The scatter plot contains points which all lie on a horizontal line. 3. State whether the following Scatter plot has a. Positive correlation b. Negative correlation c. No correlation 4. Let Y represent the profit (or loss) for a certain company X years after 1980. Based on the data shown below, a statistician calculates a linear model Y= 0.85X+3.78. Use the model to estimate the profit in 1991
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
1. What is the correct interpretation for the
b. No linear relationship exists between the variables.
c. A relationship exists between the variables.
d. No relationship exists between the variables.
2. What is the correct interpretation for the correlation coefficient r =1?
a. The
3. State whether the following Scatter plot has
a.
4. Let Y represent the profit (or loss) for a certain company X years after 1980. Based on the data shown below, a statistician calculates a linear model Y= 0.85X+3.78.
Use the model to estimate the profit in 1991
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
