the marketing manager at a jeans company wishes to find a function that erlates the demandD for men'sjeans and p, the price of the jeans. following data obtained based on a price history of the jeans Pricd $/pair demand (pairs sold/day,D 22 58 24 55 25 54 25 51 29 50 31 47 32 42 is this a funciton draw scatter plot line of best fit does the quantity increase or decrease as the price increases $1 express above relationship as a funciton domain how many jeans will be demanded if they are $26 per pair
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 marketing manager at a jeans company wishes to find a
Pricd $/pair demand (pairs sold/day,D
22 58
24 55
25 54
25 51
29 50
31 47
32 42
is this a funciton
draw
line of best fit
does the quantity increase or decrease as the price increases $1
express above relationship as a funciton
domain
how many jeans will be demanded if they are $26 per pair
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