4. The price of tickets at the beginning of each school year for a home football game for the University of Corning is given in the table below: Year Price (dollars) 1973 6.10 1975 1977 7.30 9.50 1979 11.20 1981 12.90 1983 14.60 1985 16.30 1987 18 This data can be modeled by the equation p=0.865t +3.34 where p is the price of tickets and t is the number of years since 1970. Use this equation to predict the ticket price in 2020, rounded to the nearest cent
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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