(a) Find the three- year moving averages to obtain the trend of the data. (b) Find the five-year moving averages for the data. 1.8.3 Regression Analysis
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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Australia's official development assistance (ODA) from 1984-85 until 1992-93 is shown (at current
prices, $ million) in Table 1.
Table 1
ODA($
million)
Year
1984-85
1011
1985-86
1031
1986-87
976
1987-88
1020
1988-89
1195
1989-90
1174
1990-91
1261
1991-92
1330
1992-93
1384
(a) Find the three- year moving averages to obtain the trend of the data.
(b) Find the five-year moving averages for the data.
1.8.3 Regression Analysis
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