17th Edition

ISBN: 9781259924163

Author: Lind

Publisher: MCGRAW HILL BOOK COMPANY

Concept explainers

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 p…

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Textbook Question

Chapter 14, Problem 1.6PT

Given the following regression equation, Ŷ = 7 − .5X, and that the coefficient of determination is .81, answer questions 6, 7, and 8.

6. At what point does the regression equation cross the Y-axis?

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Chapter 14, Problem 1.5PT

Chapter 14, Problem 1.7PT

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Chapter 14 Solutions

EBK STATISTICAL TECHNIQUES IN BUSINESS

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Given the following regression equation, Ŷ = 7 − .5 X , and that the coefficient of determination is .81, answer questions 6, 7, and 8. 6. At what point does the regression equation cross the Y -axis?

Solution Summary: The author explains the point at which the regression equation crosses the Y -axis, which implies that for x=0 the value of y is 7.

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Chapter 14 Solutions