A random sample of records of electricity usage of homes in the month of July gives the amount of electricity used and size (in square feet) of 135 homes. A regression was done to predict the amount of electricity used (in kilowatt-hours) (y) from size (x). The residuals plot indicated that a linear model is appropriate. The model is y = 0.2x + 1271. How much electricity would you predict would be used in a house that is 2471 square feet? 1765.2 kilowatt-hours 6000.00 kilowatt-hours
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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