t have no correlation. Square Footage and Home Sale Price: The square footages and sale prices (in thousands of dollars) of nine homes are shown in this table. Square Feet, x 950 1100 1300 1550 1800 1950 2100 2150 2300 Sale Prices, y
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.
- Construct a
scatter plot . - Find the equation of the regression line.
- Predict the value of y for each of the x-values.
- Give an example of two variables that have a
positive linear correlation. Give an example of two variables that have anegative linear correlation. Give an example of two variables that have no correlation. - Square Footage and Home Sale Price: The square footages and sale prices (in thousands of dollars) of nine homes are shown in this table.
|
Square Feet, x |
950 |
1100 |
1300 |
1550 |
1800 |
1950 |
2100 |
2150 |
2300 |
|
Sale Prices, y |
90 |
155 |
150 |
150 |
205 |
220 |
195 |
220 |
210 |
- x = 1000 square feet
- x = 1400 square feet
- x = 2000 square feet
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