a) What regression model would fit this data (linear, quadratic, cubic)? Explain b) Use technology to determine the regression equation for this data. Round your values to the nearest thousandth. c) What is the independent variable in this problem? What is the dependent variable? Explain . d) Use your regression equation to predict the number of insured commercial banks in the US in the year 2015 . e) Was the process you used in question (d) above considered Interpolation or extrapolation ?
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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