Suppose the data is taken from a Normal distribution Find the 95% confidence interval for the following data: 21 30 27 48 34 50 50 42 33 31 17 36 40 31 29 44 37 21 35 41 18 24 24 28 39
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.
Suppose the data is taken from a
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21
|
30
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27
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48
|
34
|
|
50
|
50
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42
|
33
|
31
|
|
17
|
36
|
40
|
31
|
29
|
|
44
|
37
|
21
|
35
|
41
|
|
18
|
24
|
24
|
28
|
39
|
From the provided information,
The mean and standard deviation of the sample data can be obtained as:
The population standard deviation is not known therefore, t distribution will be used to obtain the confidence interval.
Degree of freedom = n – 1 = 25 – 1 = 24
Level of significance = 1 – 0.95 = 0.05
The critical value of t at 24 degree of freedom with 0.05 level of significance from the t value table is 2.0639.
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