13)The following table presents the average price in dollars for a dozen eggs and a gallon of milk for each month from January through October 2004. Dozen Eggs Gallons of Milk 1,57 2.88 1.58 2.81 1.63 1.56 1.37 1.31 2.79 2.91 3.37 3.57 1.25 3.48 1.28 3.30 1.15 3.15 1.09 3.16 (a) Compute the least-squares regression line for predicting the price of milk from the price of eggs. (b) If the price of eggs differs by $ 0.15 from one month to the next, by how much would you expect the price of milk to differ? िशिलक्य (c) Predict the price of milk in a month when the price of eggs is $1.93 Pentel Ha 0.7mm B 50 Blai Lad
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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