er y (in thousands) of hot dogs sold the day of the game for the last five games are shown in the following table. x 29 23 32 20 19 y 21 14 29 16 14 (a) Find the equation for the regression line. (Round your answers to three decimal places.) y = 1.026 x − 6.447 (b) If advance ticket sales are 26,000 tickets, how many hot dogs should the concessionaire buy? (Round your answer to the nearest whole number.) ___________hot dogs
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 the concession stand at a baseball stadium is trying to predict the number of hot dogs that must be bought for an upcoming game. The number x (in thousands) of advance tickets sold and the number y (in thousands) of hot dogs sold the day of the game for the last five games are shown in the following table.
| x | 29 | 23 | 32 | 20 | 19 |
|---|---|---|---|---|---|
| y | 21 | 14 | 29 | 16 | 14 |
y = 1.026 x − 6.447
(b) If advance ticket sales are 26,000 tickets, how many hot dogs should the concessionaire buy? (Round your answer to the nearest whole number.)
___________hot dogs
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