The data below is how much money an ice cream store makes and what the max temperature was at that day. Test the claim that there is no correlation between the two. Use a significance of .05. Temp Dollars (Farenheit) made 81 4145 91 3342 98 4180 105 5121 84 2480 89 3011 94 3630 86 2777 95 3914 103 4798 91 4702
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.
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