The Organization for Economic Cooperation and Development (OECD) consists of 20 industrialized countries. For these nations, the prediction equation relating y = child poverty rate (in percentage points) to x = social expenditure as a percentage of gross domestic product (GDP) is = 22-1.3x. In 2000, the actual child poverty rate ranged from 2.8% (in Finland) to 21.9% (in the U.S.). Social expenditure as a percentage of GDP ranged from 2% (in the United States) to 16% (in Denmark). Using the linear prediction equation and plugging in the actual x-values (social expenditure rates) provided above, find the predicted child poverty rates for the United States and for Denmark. The x-values for both of these countries are provided above in the description of the study. (Note: You do not need to convert the percentages into proportions before or after plugging them into the equation.) The predicted child poverty rate for the U.S.: The predicted child poverty rate for Denmark:
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 Organization for Economic Cooperation and Development (OECD) consists of 20 industrialized countries. For these nations, the prediction equation relating y = child poverty rate (in percentage points) to x = social expenditure as a percentage of gross domestic product (GDP) is = 22-1.3x. In 2000, the actual child poverty rate
- Using the linear prediction equation and plugging in the actual x-values (social expenditure rates) provided above, find the predicted child poverty rates for the United States and for Denmark. The x-values for both of these countries are provided above in the description of the study. (Note: You do not need to convert the percentages into proportions before or after plugging them into the equation.)
The predicted child poverty rate for the U.S.:
The predicted child poverty rate for Denmark:
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