A bag contains 3 black balls and 5 white balls. Paul picks a ball at random from the bag and replaces it back in the bag. He mixes the balls in the bag and then picks another ball at random from the bag. a) Construct a probability tree of the problem. b) Calculate the probability that Paul picks: (i) two black balls (ii) a black ball in his second draw

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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.