Predict the annual salary in dollars for females who are at least 25 years old with 15 years of education. Years of Education 18 16 14 12 10 15 13 18 12 16 16 Annual Salary (in Dollars) 52,866 40,393 27,062 21,427 14,470 41,010 31,376 79,962 21,387 39,925 57,815 You need to use regression equation and regression line if needed
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.
Predict the annual salary in dollars for females who are at least 25 years old with 15 years of education.
Years of Education 18 16 14 12 10 15 13 18 12 16 16
Annual Salary (in Dollars) 52,866 40,393 27,062 21,427 14,470 41,010 31,376 79,962 21,387 39,925 57,815
You need to use regression equation and regression line if needed
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