Select all the statements that are true of a least-squares regression line. In the equation of the least-squares regression line, ?̂ y^ is a predicted value when ?x is known. The regression line is used to predict ?y from any value of ?x. The regression line maximizes the residuals between the observed values and the predicted values. The coefficient of determination, ?2,r2, measures how much of the variation in the ?y-values is explained by the regression line. The slope of the regression line is resistant to outliers. The sum of the squares of the residuals is the smallest sum possible.
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.
Select all the statements that are true of a least-squares regression line.
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