Generate and explain the derivation of insights using regression analysis and its associated visualization. CO 5: Differentiate between the signals identified by business analytics and the noise that is inherent in the system. X: C20 (annual number of training hours) versus Y: C21 (time to serve customers in minutes) C20 C21 100 21.8 100 21.9 100 21.7 100 21.6 100 21.7 125 21.7 125 21.4 125 21.5 125 21.4 150 21.9 150 21.8 150 21.8 150 21.6 150 21.5 175 21.9 175 21.7 175 21.8 175 21.4
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.
- : Generate and explain the derivation of insights using
regression analysis and its associated visualization. - CO 5: Differentiate between the signals identified by business analytics and the noise that is inherent in the system.
X: C20 (annual number of training hours) versus Y: C21 (time to serve customers in minutes)C20 C21 100 21.8 100 21.9 100 21.7 100 21.6 100 21.7 125 21.7 125 21.4 125 21.5 125 21.4 150 21.9 150 21.8 150 21.8 150 21.6 150 21.5 175 21.9 175 21.7 175 21.8 175 21.4
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