An economist conducted a study of the possible association between weekly income and weekly grocery expendiure The particular interest was whether higher income would result in shoppers spending more on groceries. A random sample of shoppers at a local supermarket was obtained, and a questionnaire was administered asking about the week. income of the shopper's family and the grocery bill for that week. The gender of the shopper was also obtained. The least squares line had a slope of 0.079. The average amount by which the grocery bill increases for an increase of $100 per week is given by: $10.0. The answer cannot be determined from the information provided. $0.079. $7.9.
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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