Use the above scatter plot to decide whether the linear model fits the data well. O The function is a good model for the data. O The function is not a good model for the data What is the value of t in year 2016 ? (Recall that t is the number of years after 1995) Estimate the retails sales in the U. S. in 2016. billions of dollars. (Use the equation F(t) above and estimate to the nearest whole number) Use the model to predict the year in which retails sales will bę $240 billion.
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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