Suppose the following table shows the data from the truck Oman company problems, Time 8.7 9.2 3.8 4.4 8.4 8.1 8.6 8.7 7.7 5.1 2.6 Miles 32 95 65 79 4 82 98 15 48 11 61 Deliveries 2 3 4 1 3 4 2 3 3 3 3 Identify the dependent and independent variables then perform the following tasks at 0.05 significance level: What is the Correlation Coefficient, between ‘miles’ and ‘deliveries’? If you tested the for significance of this, would you reject ? Why? Write down the fitted multiple regression equation. Test the Individual significance of the regression hypothesis at the 5% level of significance Test the Overall significance of the regression hypothesis at the 5% level of significance Interpret Adjusted R Square
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.
Suppose the following table shows the data from the truck Oman company problems,
|
Time |
8.7 |
9.2 |
3.8 |
4.4 |
8.4 |
8.1 |
8.6 |
8.7 |
7.7 |
5.1 |
2.6 |
|
Miles |
32 |
95 |
65 |
79 |
4 |
82 |
98 |
15 |
48 |
11 |
61 |
|
Deliveries |
2 |
3 |
4 |
1 |
3 |
4 |
2 |
3 |
3 |
3 |
3 |
Identify the dependent and independent variables then perform the following tasks at 0.05 significance level:
- What is the
Correlation Coefficient, between ‘miles’ and ‘deliveries’? If you tested the for significance of this, would you reject ? Why? - Write down the fitted multiple regression equation.
- Test the Individual significance of the regression hypothesis at the 5% level of significance
- Test the Overall significance of the regression hypothesis at the 5% level of significance
- Interpret Adjusted R Square
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