24. A small-appliance manufacturer finds that it costs $9000 to produce 1000 toaster ovens a woek and $12,000 to produce 1500 touster ovens a woek (a) Express the cost as a function of the mumber of tauster ovens produced, assuming that it is linear. Then sketch the graph. (b) What is the slope of the graph and what does it represent? (e) What is the y intercept of the graph and whut does it represent?
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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