A trucking company transports goods between Chicago and New York, a distance of 960 miles. The company’s policy is to charge, for each pound, $0.50 per mile for the first 100 miles, $0.40 per mile for the next 300 miles,$0.25 per mile for the next 400 miles, and no charge for the remaining 160 miles.(a) Graph the relationship between the cost of transportationin dollars and mileage over the entire 960-mile route.(b) Find the cost as a function of mileage for hauls between100 and 400 miles from Chicago.(c) Find the cost as a function of mileage for hauls between400 and 800 miles from Chicago.
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 trucking company transports goods between Chicago and New York, a distance of 960 miles. The company’s policy is to charge, for each pound, $0.50 per mile for the first 100 miles, $0.40 per mile for the next 300 miles,
$0.25 per mile for the next 400 miles, and no charge for the remaining 160 miles.
(a) Graph the relationship between the cost of transportation
in dollars and mileage over the entire 960-mile route.
(b) Find the cost as a function of mileage for hauls between
100 and 400 miles from Chicago.
(c) Find the cost as a function of mileage for hauls between
400 and 800 miles from Chicago.
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