Please calculate: Parameters a and b Correlation coefficient Determination coefficient Write correlation equation Visualise data in Scatter chart Provide explanation of results Year Sales, MEUR (Yi) Employees with higher education (Xi) 2010 70 10 2011 90 12 2012 100 15 2013 80 13 2014 110 17 2015 120 20 2016 150 25 2017 200 25 2018 200 25
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.
Do all
- Please calculate:
- Parameters a and b
Correlation coefficient - Determination coefficient
- Write correlation equation
- Visualise data in Scatter chart
- Provide explanation of results
|
Year |
Sales, MEUR (Yi) |
Employees with higher education (Xi) |
|
2010 |
70 |
10 |
|
2011 |
90 |
12 |
|
2012 |
100 |
15 |
|
2013 |
80 |
13 |
|
2014 |
110 |
17 |
|
2015 |
120 |
20 |
|
2016 |
150 |
25 |
|
2017 |
200 |
25 |
|
2018 |
200 |
25 |
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