2. This problem uses the same data (listed below) College financial aid offices expect students to use summer earnings to help pay for college. But how large are these earnings? One college studied this question by asking a sample of students how much they earned. Omitting students who were not employed, 1296 responses were received. (dollar figures are expressed in thousands) Group n x Males 675 $18.85 $13.68 Females 621 $13.60 $10.37 Provide a 95% confidence interval for the difference between male and female students in the population based on the data in this sample. (HINT: you already calculated some of the numbers you need when you did Assignment #7). In words, interpret the meaning of the confidence interval.
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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