Marketing for many colleges and universities always imply that more school will result in greater income.To test this statement, data was collected from 19 individuals who attended and completed various yearsin education including high school and college. That information is included in the table below.Education Income12 3018 5214 5512 3516 4820 15014 5816 5018 6820 12612 4216 5218 7120 12014 4516 4218 7512 4016 50 If you found any significant correlations, describe the strength or degree of the correlations?
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.
Marketing for many colleges and universities always imply that more school will result in greater income.
To test this statement, data was collected from 19 individuals who attended and completed various years
in education including high school and college. That information is included in the table below.
Education Income
12 30
18 52
14 55
12 35
16 48
20 150
14 58
16 50
18 68
20 126
12 42
16 52
18 71
20 120
14 45
16 42
18 75
12 40
16 50 If you found any significant
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