draw the scatter graph of this set of data X Y 10 1 20 3 40 4 50 5 30 2
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.
The manager of a slamon cannery suspects that the demand for her product is closely related to the disposable income of her target region. To test out this hyphothesis she collected tha following data for five different target regions, where X represents the annual disposable income fr a region in millions of dollars and Y represents sales volume in thusands of cases:
a. draw the scatter graph of this set of data
| X | Y |
| 10 | 1 |
| 20 | 3 |
| 40 | 4 |
| 50 | 5 |
| 30 | 2 |
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