Best Multiple Regression Equation For the regression equation given in Exercise 1, the P -value is 0.000 and the adjusted R2 value is 0.925. If we were to include an additional predictor variable of neck size (in.), the P -value becomes 0.000 and the adjusted R2 becomes 0.933. Given that the adjusted R2 value of 0.933 is larger than 0.925, is it better to use the regression equation with the three predictor variables of length, chest size, and neck size? Explain.
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.
Best Multiple Regression Equation For the regression equation given in Exercise 1, the P -value is 0.000 and the adjusted R2 value is 0.925. If we were to include an additional predictor variable of neck size (in.), the P -value becomes 0.000 and the adjusted R2 becomes 0.933. Given that the adjusted R2 value of 0.933 is larger than 0.925, is it better to use the regression equation with the three predictor variables of length, chest size, and neck size? Explain.
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