he cost of a leading liquid laundry detergent in different sizes is given below Size (ounces) Cost ($) 16 3.99 32 4.99 64 5.99 200 10.99 A. Write a brief description of the association. B. What is the strength of the relationship between the size of the laundry detergent and the cost? Use the correlation coefficient in your explanation. C. State the model for the size of the laundry detergent and the cost.
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
The cost of a leading liquid laundry detergent in different sizes is given below
| Size (ounces) | Cost ($) |
| 16 | 3.99 |
| 32 | 4.99 |
| 64 | 5.99 |
| 200 | 10.99 |
A. Write a brief description of the association.
B. What is the strength of the relationship between the size of the laundry detergent and the cost? Use the
C. State the model for the size of the laundry detergent and the cost.
D. Interpret the slope of your model in context.
E. Interpret the intercept of your model in context.
F. In the context of the problem is it better to have a positive or negative residual. Explain.
G. Use the linear model to predict the cost of 300 ounces of laundry detergent.
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