70. College Costs The table lists the average tuition and fees (in constant 2014 dollars) at public colleges and universi- ties for selected years. Year 1984 1994 2004 2014 Tuition and Fees 7626 9386 12,179 16,188 (in 2014 dollars) Source: National Center for Education Statistics. (a) Find the equation of the least-squares regression line that models the data. (b) Graph the data and the regression line in the same viewing window. (c) Estimate the cost in 2009.
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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