Dependent variable - Machine maintenance costs Independent variable - Machine hours Intercept - 3500 Coefficient on independent variable - 3.50 Coefficient of correlation - 0.856 R^2 - 0.733 What percentage of the variation in maintenance costs is explained by the independent variable?

Dependent variable - Machine maintenance costs Independent variable - Machine hours Intercept - 3500 Coefficient on independent variable - 3.50 Coefficient of correlation - 0.856 R^2 - 0.733 What percentage of the variation in maintenance costs is explained by the independent variable?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

Dependent variable - Machine maintenance costs

Independent variable - Machine hours

Intercept - 3500

Coefficient on independent variable - 3.50

Coefficient of correlation - 0.856

R^2 - 0.733

What percentage of the variation in maintenance costs is explained by the independent variable?

Definition Definition Relationship between two independent variables. A correlation 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.

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