QUESTION 5 Gauss-Markov theorem states, that if the model for E(YIX) is correctly specified, and the four assumptions of the multiple regression model hold, then the estimators of the parameters of the regression equation have the smallest bias among all linear and unbiased estimators of the intercept and slope coefficients. Is it true or false? True O False QUESTION 6 Analysts should compare the Root MSE to the standard deviation of the dependent variable in order to judge the magnitude of the standard error of the regression, and it is true in the simple and multiple regression models. Is it true or false? True O False
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.
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