R = cN0.8, where R is the number of miles of roadway in a city and N is the population.† (a) According to this formula, does the number of miles per person increase or decrease with increasing population? (Suggestion: For a large number N, think about the ratio N0.8/N.) Choice A) The number of miles increases with increasing population. Choice B) The number of miles decreases with increasing population. (b) Does your answer from part (a) support higher or lower road taxes for larger cities? Choice A) Larger cities have more miles per person than smaller cities, so larger cities should have higher road taxes. Choice B) Larger cities have fewer miles per person than smaller cities, so larger cities should have lower road taxes.
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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