The table gives the amount of money (in dollars) spent on football by a major university. Letting xx represent the number of years since 2008, and letting yy represent the amount of money spent on football, in thousands of dollars, use the regression capabilities of a graphing calculator to find the equation of the line of best fit. Round values off to the nearest hundredth. Then, use your equation to make the following predictions. Year 2008 2009 2010 2011 2012 2013 Dollars spent on football 169,000 197,000 210,000 222,000 245,000 285,000 The equation of the line of best fit is: Hint Predict the amount of money that will be spent on football in the year 2026. $ Predict the amount of money that will be spent on football in the year 2041. $
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 table gives the amount of money (in dollars) spent on football by a major university. Letting xx represent the number of years since 2008, and letting yy represent the amount of money spent on football, in thousands of dollars, use the regression capabilities of a graphing calculator to find the equation of the line of best fit.
Round values off to the nearest hundredth.
Then, use your equation to make the following predictions.
| Year | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
|---|---|---|---|---|---|---|
| Dollars spent on football | 169,000 | 197,000 | 210,000 | 222,000 | 245,000 | 285,000 |
The equation of the line of best fit is:
Hint
Predict the amount of money that will be spent on football in the year 2026.
$
Predict the amount of money that will be spent on football in the year 2041.
$
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