If the car has a navigation system and is silver, what is the probability that it is a Porche?
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.
Rework problem 20 from section 3.4 of your text, involving silver rental cars with navigation systems. Assume that the car lot contains 25 percent Porches, 45 percent Volvos, and 30 percent Corvettes. Of the Porches, 60 percent have navigation systems, 90 percent of the Volvos have navigation systems, and 40 percent of the Corvettes have navigation systems. Furthermore, 50 percent of the Porches, 30 percent of the Volvos, and 80 percent of the Corvettes are silver. The property of being silver is independent from having a navigation system. You are assigned a car at random.
If the car has a navigation system and is silver, what is the
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