Summary Statistics Switch Variables Statistic medianhouseholdincome casesper100k Мean 65057.304 652.217 Standard Deviation 11542.583 435.999 Sample Size 23 Correlation -0.115 Slope -0.0044 Intercept 935.699 Scatterplot Controls O Show Regression Line DO 45000 50000 55000 60000 65000 70000 75000 80000 85000 90000
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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