Pick three of these correlations. Explain what the correlation is telling us in one to three sentences each.
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.
i need help explaining 3 out of the 6
1)
For Prestige and annual earnings:
The correlation between Prestige and annual earnings is 0.4128. The value of correlation is in between 0.2 to 0.8 indicating that there is moderate positive linear relationship between two variables Prestige and annual earnings.
For age and job experience:
The correlation between age and job experience is 0.9686. The value of correlation is closer to 1 indicating that there is strong positive linear relationship between two variables age and job experience.
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