In the multiple regression model with a quarterback's salary the response variable Y and the X variables pass completion percentage (PCT), number of touchdowns (TD), and age; the test of joint significance rejected HO: beta1 = beta2 = beta3 = 0. What does that mean? O Most of these X variables are significant in explaining salary. O At least one of these X variables is significant in explaining salary. O Each of these X variables is significant in explaining salary. O The model with all three X variables is significantly better than using sample mean salary alone to estimate expected salary
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.
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