House prices: The following table presents prices, in thousands of dollars, of single-family homes for some of the largest metropolitan areas in the United States for the first quarter 2012 and the first quarter of 2013. Metro Area 2012 2013 Baltimore, MD 218.1 226.5 Boston, MA 311.5 332.2 Chicago, IL 157.2 159.4 Cincinnati, OH 112.5 121.0 Cleveland, OH 84.9 101.0 Dallas, TX 148.2 160.4 Denver, CO 226.4 261.2 Houston, TX 152.1 163.7 Las Vegas, NV 122.1 155.1 Miami, FL 182.0 219.9 Source: National Realtors Association Send data to Excel Part 1 of 2 (a) Find the population standard deviation for 2012. Round the answer to at least two decimal places. In 2012, the population standard deviation, in thousands of dollars, was Part 2 of 2 (b) Find the population standard deviation for 2013. Round the answer to at least two decimal places. In 2013, the population standard deviation, in thousands of dollars, was
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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