A commercial vegetable and fruit grower carefully observes the relationship between the amount of fertilizer used on a certain variety of pumpkin and the revenue made from sales of the resulting pumpkin crop, recorded in the following table Amount of Fertilizer 250 500 750 1000 | 1250| 1500| 1750 2000| (pounds/acre) Revenue earned 96 145 172 185 192 196 198 199 (dollars/acre) The fertilizer costs $0.14 per pound. What would you advise the grower is the most profitable amount of fertilizer to use? Check your advice by answering/calculating the following. • Is cach pound of fertilizer equally effective? Explain. • Graph the data and then estimate the maximum amount of revenue that can be earmed per acre from your graph. Call this estimate c. • Compute a linear regression for the data.
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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