In the following estimated multiple regression model, we study the amount of sleep (in minutes) an average person gets every night. Each observation is a day, and if the day is a holiday, Holiday = 1; if the day is Monday, Monday = 1. In other words, all independent variables are dummy variables. sleep = 458.5 + 8.6Holiday – 4.9Monday – 7.7Tuesday – 7.4Wednesday – 4.7 Thursday + 23.4Friday + 30.6Saturday a. Explain why Sunday is not included in the model as an independent variable. b. Explain in plain English the meaning of the intercept 458.5. Does this number make sense? c. According to the model, how much sleep does an average person get on a day that is both a Saturday and a Holiday?
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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