Car colour preferences change over the year and according to the particular model that the customer selects. In the recent year, suppose that 20% of all luxury cars are randomly selected are black. Let the sample of luxury cars are 30. Find the following probabilities; a)At least five cars are black. b)At most six cars are black c)Between three and five cars (In
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.
Car colour preferences change over the year and according to the particular model that the customer selects. In the recent year, suppose that 20% of all luxury cars are randomly selected are black. Let the sample of luxury cars are 30. Find the following probabilities;
a)At least five cars are black.
b)At most six cars are black
c)Between three and five cars (Inclusive) are black
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