For the following exercises, consider the data in the following Table, which shows the percent of unemployed in a city of people 25 years or older who are college graduates is given below, by year. Year Percent Graduates 2000 6.5 2002 7.0 2005 7.4 2007 8.2 2010 9.0 a. Make a scatterplot of the data and determine whether the trend appears to be linear. b. If so, and assuming the trend continues, find a linear regression model to predict the percent of unemployed in 2011,2012,2013 to three decimal places. c. In what year will the percentage exceed 12%?
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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