Ted researched the price of airline tickets and discovered a correlation between the price of a ticket and the number of miles traveled. After recording his data on a scatter plot, he determined the equation for the line of best fit is y = 300 + 0.45x. What does 300 represent in the equation? O the number of miles traveled at 0.45 per mile o the cost of the ticket when the number of miles equals 0 o the cost of the ticket when the number of miles equals 45 the maximum number of miles allowed at 0.45 per mile
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.
Ted researched the price of airline tickets and discovered a correlation between the price of a ticket and the number of miles traveled. After recording his data on a scatter plot, he determined the equation for the line of best fit is y = 300+0.45x.
Here, 300 is basically the base price of airline tickets.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
