The cost of a flight is related to the distance traveled: Miles Cost ($) 225 38.5 525 76.1 1,100 1,375 1,950 119 142 200 2,250 244 a)Graph the scatter plot on your calculator. Is the data linear, quadratic, or exponential? b) Use the appropriate regression to find the equation of best fit. c) Use your model to predict the cost of a flight that travels 800 miles? Is this interpolation or extrapolation? d) Use your model to predict the cost of a flight that travels 3000 miles. Is this interpolation or extrapolation?
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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