To examine the linear correlation between work experience and salary, data was collected from employees at a company. See the table below. Years of Salary Experience ($1000's) 41 41 7 51 13 49 15 58 16 52 18 58 24 63 Does this result suggest that the correlation is statistically significant? Use a = 0.05. Important Note: Round your value for r to three decimals before computing the STS, DO NOT use the built- in LinRegTTest on a calculator because you might get marked wrong. When computing the P-value, use the rounded STS. 1. Select the correct statement: O If the correlation is found to be statistically significant, that means that changes in x cause changes in y O Even if the correlation is found to be statistically significant, that does not necessarily mean that changes in x cause changes in 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.
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