Tuition Fees: The following table shows the average annual tuition and fees at private and public 4-year colleges and universities for the school years 2009-2010 through 2014-2015. Year Private Public 2009-2010 31,448 15,014 2010-2011 32,617 15,918 2011-2012 33,674 16,805 2012-2013 35,074 17,474 2013-2014 36,193 18,372 2014-2015 37,385 19,203 Using 1 for 2009-2010, 2 for 2010-2011, and so on, find the linear correlation coefficient and the equation of the least-squares line for the tuition and fees at private 4-year colleges and universities, based on the year. Using 1 for 2009-2010, 2 for 2010-2011, and so on, find the linear correlation coefficient and the equation of the least-squares line for the tuition and fees at public 4-year colleges and universities, based on the year. Based on the linear correlation coefficients you found in parts a and b, are theequations you wrote in parts a and b good models of the growth in tuition and fees at 4-year colleges and universities?
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.
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