The table below shows the average monthly rate, in millions of barrels per month, of crude oil production in the US throughout each decade, from the 1920s to the 2000s. (For example, the first entry tells us that over the decade of the 1920s, the average monthly oil production was 57,000,000 barrels per month.) Decade 1920s 1930s 1940s 1950s 1960s 1970s 1980s 1990s 2000s Average Monthly Production 57 97 136 216 260 280 248 215 174 Estimate the total US oil production from 1920 to the end of the 2009. O 181,080,000,000 barrels 188,100,000,000 barrels O 195,120,000,000 barrels 201,960,000,000 barrels None of the above
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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