Consider the linear regression model given by y^= 6.553 - 0.0312x and the determination coefficient R2 = 0.64 Find the intercept from the model. Specify the type of relation between the two variables. Explain why? Find the increment in the dependent variable when the independent variable increase by one unit.
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.
Consider the linear regression model given by y^= 6.553 - 0.0312x and the determination coefficient R2 = 0.64
- Find the intercept from the model.
- Specify the type of relation between the two variables. Explain why?
- Find the increment in the dependent variable when the independent variable increase by one unit.
- Interpret the value of the determination coefficient
- Find the slope
- Find the
correlation coefficient and interpret your result - Predict the value of the dependent variable when the independent variable = 3.5
- Find the value of the dependent variable when the value of the independent variable = 0
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