sents the number of items and y is the cost in dollars, then which of the following is a correct interpretation of the coefficient of determination which is 89%? a) Approximately 89% of the data is explained by the least squares regression line. b) Approximately 89% of the least squares regression line is explained by the data. c) Approximately 89% of t
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.
Given that x represents the number of items and y is the cost in dollars, then which of the following is a correct interpretation of the coefficient of determination which is 89%?
a) Approximately 89% of the data is explained by the least squares regression line.
b) Approximately 89% of the least squares regression line is explained by the data.
c) Approximately 89% of the variation in the cost can be explained by the variation in the number of items purchased.
d) Approximately 89% of the variation in the number of items purchased can be explained by its linear relationship with cost.
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