Two soap brands have a competition over the longevity of their bars. A sample of 16 bars from company A lasts an average of 13.1 years with a sample variance of 15.98. A sample of 22 bars from company B lasts for an average 10.3 years with a sample variance of 7.2. Test to see if company A’s variance is larger than company B’s variance using a 5% level of significance. The null hypothesis is that the variances are the same. The alternate hypothesis is that company A’s variance is larger than company B’s variance. Report your conclusion: a) reject the null hypothesis b) fail to reject the null hypothesis
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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