A random sample of ten professional athletes produced the following data. The first row is the number of endorsements the athlete has and the second row is the amount of money made (in millions of dollars) by the athlete. Is it reasonable to use linear regression to find the line of best fit for this data set? Number of Endorsements 0 3 2 1 5 5 4 3 0 4 Profit (in Millions) 2 8 7 3 13 12 9 9 3 10 Group of answer choices Yes since visual examination of the scatter plot shows points approximately in a straight-line pattern. No since the number of endorsements and the profit of the athlete are not related. No since visual examination of the scatter plot shows points not approximately in a straight-line pattern. No since visual examination of the scatter plot shows points approximately in a straight-line pattern. Yes since the number of endorsements causes the athlete to make profit.
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 random sample of ten professional athletes produced the following data. The first row is the number of endorsements the athlete has and the second row is the amount of money made (in millions of dollars) by the athlete. Is it reasonable to use linear regression to find the line of best fit for this data set?
|
Number of Endorsements |
0 |
3 |
2 |
1 |
5 |
5 |
4 |
3 |
0 |
4 |
|
Profit (in Millions) |
2 |
8 |
7 |
3 |
13 |
12 |
9 |
9 |
3 |
10 |
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