Interpret the regression output from R below on Ikea furniture. The dependent variable is the prices of the furniture (in US dollars), the categorical variable "sellable online" measures if the furniture is available online (true) or not (false). The variable height is continuous and measures the height of furniture (in centimeters). Interpret each variable, noting if it is significant (at the .05) level. What kind of model is this (the simple regression, parallel slopes, or interaction model)?
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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