The following linear regression model can be used to predict the number of boat rentals at a marina based on the day's temperature in fahrenheit: Boats Rented^=15+4×∘F Choose the best interpretation of the slope in this model. The slope tells us that the data was perfectly linear when viewing a scatterplot. As the temperature increases by one degree fahrenheit, we expect the number of boats rented to increase by 4. The slope tells us the data had a negative correlation. We predict 15 boats rented if the day's temperature is 0°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 following linear regression model can be used to predict the number of boat rentals at a marina based on the day's temperature in fahrenheit:
Boats Rented^=15+4×∘F
Choose the best interpretation of the slope in this model.
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