Which of following is true or the most appropriate about a scatterplot with regression line or ordinary least square (OLS) regression?
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.
Which of following is true or the most appropriate about a scatterplot with regression line or ordinary least square (OLS) regression?
Question 18 options:
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No matter how you decide to draw your straight line, in general, all will will fall directly on the line. |
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Any data point that does not fall directly on the line will have a certain amount of distance between the point and the line. |
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If you were to calculate the distance between the data point and the line you have drawn, and then sum the distance, you would have a regression coefficient for the data points |
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OLS is based on an idea that we have seen before: the sum of deviation. |
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