Based on the following table, what is the sample regression equation? Standard Coefficients Error t Stat p-value Intercept 10,667.2167 7,538.0564 1.311 0.1927 Cost 0.1512 0.941 3.917 0.0002 Grad 184.4909 59.5840 2.574 0.0114 Debt 120.8303 110.0560 1.207 0.2300 Multiple Choice Earnings = 10,667.2167 + 0.1512Cost + 184.4909Grad + 120.8303Debt Earnings = 10,667.2167 – 0.151Cost + 184.4909Grad + 120.830Debt Earnings = 10,667.2167 – 0.151Cost + 184.4909Grad – 120.830Debt Earnings = 10,667.2167 + 0.151Cost + 184.4909Grad – 120.830 Debt
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.
We have been given the output of regression.
We have the regression equation given as,
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
