The answer to each of the following questions will be one of the points labeled A-H on the scatterplot. (i) Of the sales that received lower-than-predicted tips, which one had the lowest sale amount? [ Select ] ["D", "E", "A", "B", "F", "H", "G", "C"] (ii) Which sale received the best tip, that is, which sale had the tip that was highest above the tip predicted for it? [ Select ] ["A", "B", "D", "E", "C", "G", "H", "F"] (iii) Which data point has the smallest residual? [ Select ] ["A", "C", "F", "H", "D", "G", "B", "E"] (iv) Of E and F, the model makes a better prediction for [ Select ] ["E", "F"]
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.
The answer to each of the following questions will be one of the points labeled A-H on the scatterplot.
(i) Of the sales that received lower-than-predicted tips, which one had the lowest sale amount? [ Select ] ["D", "E", "A", "B", "F", "H", "G", "C"]
(ii) Which sale received the best tip, that is, which sale had the tip that was highest above the tip predicted for it? [ Select ] ["A", "B", "D", "E", "C", "G", "H", "F"]
(iii) Which data point has the smallest residual? [ Select ] ["A", "C", "F", "H", "D", "G", "B", "E"]
(iv) Of E and F, the model makes a better prediction for [ Select ] ["E", "F"] .
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