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=1.557x−135.290. Average Weekly Wages (state), x Average Weekly Wages (federal), y 765 1001 769 1043 784 1105 801 1149 835 1203 881 1247 917 1284 941 1305 Complete parts (a) and (b) below. (a) Find the coefficient of determination and interpret the result. r2= (Round to three decimal places as needed.) How can the coefficient of determination be interpreted? (b) Find the standard error of estimate se and interpret the result. se= (Round to two decimal places as needed.) How can the standard error of estimate be interpreted?
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
765 1001
769 1043
784 1105
801 1149
835 1203
881 1247
917 1284
941 1305
Complete parts (a) and (b) below.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
