Online marketplaces have become a popular way for individuals to buy and sell miscellaneous items. The table to the right shows the number of days products stayed active (not sold) on one of these sites and also the price range of the items. Complete parts a through c below. Price Range 1-7 Days 8-30 Days Over 30 Days Total Under $200 118 13 27 158 $200-$500 196 153 95 444 $501-$1,000 405 530 179 1114 Over $1,000 121 138 36 295 Total 840 834 337 2011 b. Is the event "1-7 days on the website" independent of the price range $200-$500? How do I fill in the blanks from the choices provided? (Yes or No) because the (Sum or Product) of the probabilities of the two events (Does or Does Not) equal the (Joint or Conditional) probability.
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.
Online marketplaces have become a popular way for individuals to buy and sell miscellaneous items. The table to the right shows the number of days products stayed active (not sold) on one of these sites and also the price
| Price Range | 1-7 Days | 8-30 Days | Over 30 Days | Total |
| Under $200 | 118 | 13 | 27 | 158 |
| $200-$500 | 196 | 153 | 95 | 444 |
| $501-$1,000 | 405 | 530 | 179 | 1114 |
| Over $1,000 | 121 | 138 | 36 | 295 |
| Total | 840 | 834 | 337 | 2011 |
b. Is the
How do I fill in the blanks from the choices provided?
(Yes or No) because the (Sum or Product) of the probabilities of the two events (Does or Does Not) equal the (Joint or Conditional) probability.
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