The following is a test result from the simple linear regression analysis of sales price (y) versus age (x). DF Adj SS Adj MS F-Value P-Value Regression; 1 17084 17084 5.52 0.022 Error; 58 179444 3094 Total; 59 196527 What does the test result above suggest about the relationship between sales price and age at 0.05 significance level? Group of answer choices 1) There is a significant linear relationship between sales price and age. 2) There is not a significant relationship between sales price and age. 3) The relationship is negative. 4) The test is inconclusive.
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 following is a test result from the simple linear
DF Adj SS Adj MS F-Value P-Value
Regression; 1 17084 17084 5.52 0.022
Error; 58 179444 3094
Total; 59 196527
What does the test result above suggest about the relationship between sales price and age at 0.05 significance level?
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