a) Develop a scatter diagram for these data. Does a linear relationship appear reasonable? Explain. b) Develop the least squares estimated regression equation. Include a table like the one in the Lecture notes 13, Table 14.2. c) Did the estimated regression equation provide a good fit? Explain.
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.
Question: Almost all U.S. light-rail systems use electric cars that run on tracks built at street
level. The Federal Transit Administration claims light-rail is one of the safest modes
of travel, with an accident rate of .99 accidents per million passenger miles as
compared to 2.29 for buses. The following data show the miles of track and the
weekday ridership in thousands of passengers for six light-rail systems (USA Today,
January 7, 2003)
a) Develop a
reasonable? Explain.
b) Develop the least squares estimated regression equation. Include a table like
the one in the Lecture notes 13, Table 14.2.
c) Did the estimated regression equation provide a good fit? Explain.
d) Develop a 95% confidence interval for the mean weekday ridership for all
light-rail systems with 30 miles of track.
e) Suppose that Charlotte is considering construction of a light-rail system with
30 miles of track. Develop a 95% prediction interval for the weekday
ridership for the Charlotte system. Do you think that the prediction interval
you developed would be of value to Charlotte planners in anticipating the
number of weekday riders for their new lightrail system? Explain.
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