STUDENTS IN MIDPOINT OF OPERATING NUMBER OF AVERAGE DAILY VALUES IN EXPENDITURE SChOOls IN ATTENDANCE COLUMN A PER STUDENT SAMPLE (A) (B) (C) (D) 143–200 171 $531.9 6 201-300 250 480.8 12 301-400 350 446.3 19 401–500 450 426.9 17 501-600 550 442.6 14 601-700 650 413.1 13 701-900 800 374.3 901-1,100 1,000 433.2 1,101–1,600 1,350 407.3 1,601–2,400 2,000 405.6 7
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.
The attached cost-output data were obtained as part of a study of the economies of scale in operating a charter high school in Wisconsin:
What type of cost-output relationship (linear, quadratic, cubic) is suggested by these statistical results?
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