Is there a relationship between the weight and price of a mountain bike? The following data set gives the weights and prices for ten mountain bikes. Let the explanatory variable x be the weight in pounds and the response variable y be the bike's price. Weight (LB) 3131 3636 3030 3535 2929 2929 2828 3030 3232 3535 Price ($) 980980 150150 11001100 190190 470470 680680 580580 550550 320320 930930 a. How you explain the slope? y = 1912.08 + -41.81x
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
|
Weight (LB)
|
3131
|
3636
|
3030
|
3535
|
2929
|
2929
|
2828
|
3030
|
3232
|
3535
|
|
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Price ($)
|
980980
|
150150
|
11001100
|
190190
|
470470
|
680680
|
580580
|
550550
|
320320
|
930930
|
|
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