The median home value in Tennessee and Vermont (adjusted for inflation) are shown below. Year Tennessee Vermont 1950 31900 38000 111500 2000 93000 If we assume that the house values are changing linearly, V Select an answer a) In which state have home values increased at a higher rate? nswer v Vermont the rates are equal Tennessee b) If these trends were to continue, what would be the median noe varue in Tennessee in 2010? 24 Preview c) If we assume the linear trend existed before 1950 and continues after 2000, the two states' median house values will be (or were) equal in what year? (The answer might be absurd) The year Preview Get heln: Video MacBook Pro Wil GSearch or type URL 3 4 5 8 Q W R. T Y F G H K C V 2 36 command option mmand B
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.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
