You are preparing a presentation to give to the CEO of a pharmaceutical company which requires you to provide a linear model of their profit after 2000. You are provided with the following information 1. The profit in 2000 was 3 billion dollars. 2. The marginal profit in 2000 was 6 billion dollars/per year. 1 3. The rate of change of the mariginal profit between 2000 and 2006 is between 0 and 740 Question 1 Find a linear model for the profit function (measured in billion) dollars and t measured in years after 2000. Linear Model =
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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