2. A company that holds the DVD distribution rights to movies previously released only in theaters wants to estimate sales revenue of DVDs based on box office success. The box office gross (in Php millions) for each of 22 movies in the year that they were released and the DVD revenue (in Php millions) in the following year are shown below and stored in (pic) a. construct a scatter plot. b. assuming a linear relationship, use the least-squares method to determine the regression coefficients b0 and b1.
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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