Solve the problem. Each manager of a corporation was nated as being either a good, fair, or poor manager by his/her boss. The manager's educational background was also noted. The data appear below: Educational Background Managed Rating H.S. Degree Some College College Degree Master'sor PhD. Totals Good Fair 27 39 16 41 26 87 Poor 18 34 Totals 9. 27 76 48 160 If we randomly selected one manager from this company, find the probability that he or she has an advanced (Master's or Ph D.) degree and is a good manager.
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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