There is a 0.45 probability that the Morgan company (a paper manufacturer) will send a sales rep. to call on the buyer for the Brown Printing Co. If Morgan doesn’t send a rep., there is 0.7 probability Brown will buy from Morgan’s competitor, Xerxes. If Morgan does send a sales rep. then there is a 0.25 probability Brown will buy from Xerxes. If Brown does buy from Xerxes, what is the probability that Morgan did not send a sales rep. to call on Brown?
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.
Exercise 7. There is a 0.45
If Brown does buy from Xerxes, what is the probability that Morgan did not send a sales rep. to call on Brown?
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