Listed below are the amounts of court income and salaries paid to the town justices. All amounts are in thousands of dollars. Court Income 66 402 1568 274 110 30 Justice Salary 31 43 93 46 26 19 a) State the value of the linear correlation coefficient r and explain how you found it. (Round r to 3 decimal places.) b) What is the critical value using the Pearson Correlation Coefficient table with α=0.01? c) Does this data have a significant linear correlation, yes or no? Explain why it does or does not have a significant linear correlation
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.
|
Court Income
|
66
|
402
|
1568
|
274
|
110
|
30
|
|
Justice Salary
|
31
|
43
|
93
|
46
|
26
|
19
|
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