Compute the least-squares regression line for predicting the 2006 budget from the 2004 budget. Round the slope and y- intercept to at least four decimal places. Regression line equation: y = 9.8204 + 0.9260x| Part: 1/3 Part 2 of 3 If two institutions have budgets that differ by 10 million dollars in 2004, by how much would you predict their budgets to: differ in 20067 Round the answer to three decimal places. In 2006, their budgets would differ by million dollars.
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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