2.5 1.5 0.5 1 3 4 5 6. Distance (km) (a) Use the scatter diagram to find the value of a and b in the table. 15 16 (b) Calculate (i) the mean distance from the Melbourne city centre, F; 17 (ii) the mean 1 m² price, in thousands AUD, ĝ; 18 (iii) the Pearson's product-moment correlation coefficient, r. 19 (c) Write down the equation of the regression line y on x. 20 (d) Use the line of the regression equation to estimate the price of 1 m² of the land 4 km from the Melbourne city centre. State whether your estimate is reliable and justify your answer. 21. 22 1 m² price (thousand AUD)
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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