What is the purpose of testing whether 8, = 0? O The purpose of testing whether 8, - 0 is to determine whether or not the mean of the x values is equal to the mean of the y values. O The purpose of testing whether 8, -0 is to determine whether or not the regression line provides a good fit for the data. O The purpose of testing whether 8, -0 is to determine whether or not there is a cause-and-effect relationship between x and y. O The purpose of testing whether 8, = 0 is to determine whether or not there is a significant relationship between x and y. If we reject 8, - 0, does it imply a good fit? O Rejecting 8, -0 does not necessarily imply a good fit. For example, if 8, - 0 is rejected and 2 is high, there is a statistically significant relationship between x and y but the fit is not very good. O Rejecting 8, = 0 always implies a good fit. If 8, = 0 is rejected, there is a statistically significant relationship between x and y which always implies a good fit. O Rejecting 8, = 0 never implies a good fit. If S, = 0 is rejected, there is not a statistically significant relationship between x and y which never implies a good fit. O Rejecting 8, - 0 does not necessarily imply a good fit. For example, if 8, - 0 is rejected and 2 is low, there is a statistically significant relationship between x and y but the fit is not very good.
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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