the value of Spearman's correlation coefficient for the association between chocolate consumption and number of Nobel prize winners in chocolate_nobels.xls? -the answer is not 0.0438 that was given w

Q: What is the point estimate of the annual income of a salesperson with three years of college?  Test…

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Q: QUESTION 6 PART A- (This question has 3X the normal weight). What is the value of Spearman's…

A: Data given:

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A:

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A: By using the spreadsheet, compute the correlation coefficient using the following steps: Enter the…

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.