Suppose in a regression analysis to predict house price ('S000) using the number of rooms and distance (km) from city's core, the following data were collected. House Price Distance 10 Rooms 1199 4 647 4 62 1266 6. 17 960 10 558 66 433 4 88 980 32 894 4 32 780 61 724 81 1084 24 Genezate a multiple regression output for the data. a. Find SSE and SSR rounded to the nearest whole number. SSE - SSR = Report the required values in parts b., c., and d. accurate to 3 decimal places: b. R - c. The standard error of estimate is d. The regression coefficients:
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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