d. Develop the estimated regression equation by computing the values of b0 and b1 (1 decimal) e. Use the estimated regression equation to predict the value of Y when x=4 (1 decimal)
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.
Given are five observations for two variables, X and Y.
a. Which of the following scatter diagrams accurately represents the data?
b. What does the scatter diagram indicate about the relationship between the two variables? There appears to be a POSITIVE linear relationship between X and Y.
c. Try to approximate the relationship between X and Y by drawing a straight line through the data. Which of the following scatter diagrams with a trend line accurately represents the data? SCATTER DIAGRAM # 1
(NEED ANSWERS FOR D and E)
d. Develop the estimated regression equation by computing the values of b0 and b1 (1 decimal)
e. Use the estimated regression equation to predict the value of Y when x=4 (1 decimal)
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