The correlation between a response and an explanatory variable was calculated as part of a simple linear regression analysis. The corresponding 95% confidence interval for the correlation coefficient was calculated as [-0.2, 0.2]. Without calculating anything, what can you say regarding whether the explanatory variable is a significantly useful predictor of the response? Explain your answer.
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.
The
of a simple linear
the correlation coefficient was calculated as [-0.2, 0.2]. Without calculating anything,
what can you say regarding whether the explanatory variable is a significantly useful
predictor of the response? Explain your answer.
Step by step
Solved in 2 steps
