The table shows the average weekly wages (in dollars) for state government employees and federal government employees for 8 years. The equation of the regression line is y=1.482x−78.952. Average Weekly Wages (state), x Average Weekly Wages (federal), y 754 994 762 1037 797 1106 802 1151 844 1201 884 1260 934 1270 945 1310 (a) Find the coefficient of determination and interpret the result. r2= (Round to three decimal places as needed.) Complete parts (a) and (b) below. (b) Find the standard error of estimate se and interpret the result. Se= (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.
The table shows the average weekly wages (in dollars) for state government employees and federal government employees for 8 years. The equation of the regression line is
754 994
762 1037
797 1106
802 1151
844 1201
884 1260
934 1270
945 1310
Complete parts (a) and (b) below.
(b) Find the standard error of estimate
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