The marketing team at an internet music site wants a better understanding of who their customers are. They send out a survey to 25 customers (and use an incentive of $50 worth of downloads to guarantee 19 33 33 28 31 a high response rate) asking for demographic information. One of the variables is the customer's age. For the 25 customers, the ages are shown to the right. Complete parts a) through c). 31 31 15 29 11 37 23 44 47 25 26 23 31 35 33 36 43 42 44 47 a) Standardize the minimum and maximum ages using a mean of 31.88 and a standard deviation of 9.545, The z-score for the minimum age is and the z-score for the maximum age is. (Round to three decimal places as needed.)
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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