average hourly earnings Average tuition 16.13 5351 16.76 5666 17.43 5943 18.08 6312 18.63 6695 19.07 7136 Predict the average hourly earnings when the average tuition is $7000 Find the coefficient of correlation
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.
average hourly earnings Average tuition
16.13 5351
16.76 5666
17.43 5943
18.08 6312
18.63 6695
19.07 7136
Predict the average hourly earnings when the average tuition is $7000
Find the coefficient of
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