A consumer organization wants to develop a regression model to predict gasoline mileage (as measured by miles per gallon) based on the horsepower of the car’s engine and the weight of the car, in pounds. A sample of 50 recent car models was selected, with the results recorded in the file auto.xls. State the multiple regression equation. Interpret the meaning of the slopes, b1 and b2, in this problem. Explain why the regression coefficient, b0, has no practical meaning in the context of this problem. Predict the mean miles per gallon for cars that have 60 horsepower and weigh 2,000 pounds.
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.
A consumer organization wants to develop a regression model to predict gasoline mileage (as measured by miles per gallon) based on the horsepower of the car’s engine and the weight of the car, in pounds. A sample of 50 recent car models was selected, with the results recorded in the file auto.xls.
- State the multiple regression equation.
- Interpret the meaning of the slopes, b1 and b2, in this problem.
- Explain why the regression coefficient, b0, has no practical meaning in the context of this problem.
- Predict the mean miles per gallon for cars that have 60 horsepower and weigh 2,000 pounds.
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