10. The Aimco Job Placement Agency gathers data from a survey about the number of years of college and their clients' starting salaries. The regression equation y = 8.2 + 11.44x represents the relationship between number of college years experience (x) and starting salary (v) (in thousands). The value is .888. a) Use the regression equation to determine the starting salary of someone who has 6 years of college experience. (choose one) A. $68,640.00 B. $76,840.00 C. $82,000.00 D. $11,400.00 b) The r'value tells us that (choose one)| A. It is a weak correlation B. It is a negative correlation C. Approximately 89% of the observed variation is explained by the straight-line relationship between X and Y. D. There is extreme variation observed in starting salaries.
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.
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