Calculate the correlation coefficient r. Make a conclusion about the type of correlation.
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.
Calculate the
Make a conclusion about the type of correlation.
![The budget (in millions of dollars) and worldwide gross (in millions of dollars) for eight movies are shown below. Complete parts (a) through (c).
Budget, x
Gross, y
206
205
201
201
181
177
173
170
388
281
256
787
754
1830
370
510](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3150a144-afd4-4f62-8059-ff69d5713618%2F0a1ee849-0004-4201-8332-73af82d76b9c%2Fs7c365j_processed.png&w=3840&q=75)
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Correlation coefficient measures the strength and direction of the linear relationship between two variables.
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