Given the regression output below and a significance level of 99%, can we reject the null hypothesis that bl=0? call: Im(formula = Sales - spend, data - dataset) Residuals: Min -3385 -2097 1Q Median 258 30 мах 1726 3034 coefficients: Estimate std. Error t value Pr(>[t|) 0.296 (Intercept) 1383. 4714 1255.2404 1.102 Spend 10. 6222 0.1625 65. 378 1.71e-14 *** signif. codes: 0 ***** 0.001 ***' 0.01 **' 0.05 '.' 0.1 ·'1 Residual standard error: 2313 on 10 degrees of freedom Multiple R-squared: 0.9977, Adjusted R-squared: 0.9974 F-statistic: 4274 on 1 and 10 DF, p-value: 1.707e-14 Yes Cannot determine with the available data No
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.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
