A study compared the number of years of education a person received and that person's average yearly salary. It was determined that the relationship between these two quantities was linear and the correlation coefficient was 0.91. Which conclusion can be made based on the findings of this study? 1) There was a weak relationship. 2) There was a strong relationship. 3) There was no relationship. 4) There was an unpredictable relationship.
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.
Solution:
The correlation coefficient between the number of years of education a person received and persons average yearly salary is
r= 0.91
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
