16. A financial analyst wants to investigate the relationship between the annual starting salary of new employees at a large firm versus years of education the employee has (beyond high school). The analyst selected a random sample of 18 new employees and recorded their starting salary and how many years of education they have beyond high school. The computer output of an analysis of salary versus years of education is shown in the table. Regression Analysis: Salary (in $1,000) versus Education Predictor Coef SE Coef Constant 25.840 3.803 ... Education 13.4862 0.5310 Assuming that all conditions for inference are met, which of the following is the appropriate test statistic for testing the null hypothesis that the slope of the population regression line equals o?
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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