Based on the scatterplot and computer output, a reasonable estimate for the stock price for week 95 is:
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.
A popular social media platform has begun offering stock shares to the public. In the past 2 years, the price of the stock has generally increased. An investment specialist gathers data on the stock price during the past 2 years and creates an exponential model for estimating the stock price based on the number of weeks after the first public offering.
Based on the
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