Summary Statistics Switch Variables D000 Statistic casesper100k medianhouseholdincome Mean 652.217 65057.304 0000 Standard Deviation 435.999 11542.583 Sample Size 23 Correlation -0.115 0000 Slope -3.054 Intercept 67049.159 0000 Scatterplot Controls O Show Regression Line 50000 250 500 750 1000 1250 1500 1750 2000 casesper100k
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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