4. The Excel table below shows the results of a regression analysis by observing the sales generated for chocolate bars vs money spent on advertising. (sales = y variable, advertising = x variable) SUMMARY OUTPUT Regression Statistics Multiple R 0.988287905 R Square Adjusted R S 0.973386267 0.976712984 Standard Erre 51.82929288 Observations ANOVA df SS Significance F MS Regression 1 788681.6264 788681.6 293.5967 5.65982E-07 Residual 7 18803.9292 2686.276 Total 8 807485.5556 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 167.6829495 58.938986 2.845026 0.024865 28.31439379 307.0515051 28.31439379 307.0515051 Advertising 23.42278559 1.366982532 17.13466 5.66E-07 20.19038555 26.65518564 20.19038555 26.65518564 (i) (ii) What is the value of n? What is the regression line that predicts the sales, y in terms of advertising, x? Comment briefly on the slope sign. What information is provided by the R squared? Is the model statistically significant? Provide a justification for (iii) (iv) your answer. (v) Calculate the correlation coefficient.

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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.