The following data show the brand, price ($), and the overall score for 6 stereo headphones that were tested by Consumer Reports. The overall score is based on sound quality and effectiveness of ambient noise reduction. Scores range from 0 (lowest) to 100 (highest). The estimated regression equation for these data is y = 19.653 + 0.353 x, where x = price ($) and y = overall score. Brand Price ($) Score Bose 170 76 Scullcandy 150 71 Koss 95 62 Phillips/O'Neill 70 57 Denon 70 40 JVC 45 24 Round your answers to three decimal places. a. Compute SST, SSR, and SSE. ST SSR SSE b. Compute the coefficient of determination r 2. Comment on the goodness of fit. - 2 Select c. What is the value of the sample correlation coefficient? r =
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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