I cannot detmerine how in this answer where it is bolded & italicized how you get 6.15 making the Y = 468.717 Step 1 Given information- We have given the equation- lnY = 4.9 + 0.025X We have to find the expected value of Y when X = 50. Change in the predicted value of Y, when X increases by 5 units. Step 2 So, for X = 50, the expected value of Y is given by- lnY = 4.9 + 0.025 * 50 lnY = 6.15 So, Y = 468.717 Hence, the expected value of Y is 468.717. Now, change in the predicted value of Y, when X increases by 5 units will be a change due to the slope- = exp(0.025 * 5) = 1.133 units Hence, the change in the predicted value of Y is 1.133 units
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.
I cannot detmerine how in this answer where it is bolded & italicized how you get 6.15 making the Y = 468.717
Given information-
We have given the equation-
lnY = 4.9 + 0.025X
We have to find the
Change in the predicted value of Y, when X increases by 5 units.
So, for X = 50, the expected value of Y is given by-
lnY = 4.9 + 0.025 * 50
lnY = 6.15
So, Y = 468.717
Hence, the expected value of Y is 468.717.
Now, change in the predicted value of Y, when X increases by 5 units will be a change due to the slope-
= exp(0.025 * 5)
= 1.133 units
Hence, the change in the predicted value of Y is 1.133 units.
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