We are interested in looking at the effect of a baseball player’s free-agent status on their salary. We look at 337 baseball players and categorize them as either having a high salary (above 2 million) or not, and as either being free agents or not. 1. What is the conditional distribution of the variable High Salary when looking only at those who are free agents? 2. What is the conditional distribution of the variable High Salarywhen looking only at those who are not free agents? 3. What is the marginal distribution of High Salary
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.
We are interested in looking at the effect of a baseball player’s free-agent status on their salary. We look at 337 baseball players and categorize them as either having a high salary (above 2 million) or not, and as either being free agents or not.
1. What is the conditional distribution of the variable High Salary when looking only at those who are free agents?
2. What is the conditional distribution of the variable High Salarywhen looking only at those who are not free agents?
3. What is the marginal distribution of High Salary?
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