(a)For these data, mileages that are greater than the mean of the mileages tend to be paired with used selling prices that are ▼(Choose one) the mean of the used selling prices. (b)According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding decrease of how many thousand dollars in the used selling price? (c)From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 18.2 thousand miles? (Round your answer to at least one decimal place.) (d)From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 15.4 thousand miles? (Round your answer to at least one decimal place.)
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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