U:PASS-Nat tasha\'s Business Statistics Class CORRELATION and REGRESS ON 1. What
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U:PASS-Nat tasha's Business Statistics Class CORRELATION and REGRESS ON 1. What is t a measure for? 2. What are its limits? (i.e. its limits? (i.e. why might it not be might it not be so useful?) We are told that for the av Sydney to Melbourne, r 3. 25e daily price of petrol in Sydney and flight sales from s a strongWe can say that this means: positive b. There is a weak positive linear relationship . There is no relationship between the two d. There is a positive causal relationship between e. Both b and d are correct relationship between the two variables variables Regression 4. Eggs sold 5. Which is the independent and which is the dependent Price of eg&s; What is the simple linear regression equation? (see slide 13) How is multiple regression different to simple regression? What is the multiple regression equation? 6. 7. Form a regression equation from the table below. Regression Statistics Multiple R R Square Adjusted R square Standard Error Observations 0.625 0.391 0.362 1.304 90 t Stat P-value Lower 9S% $8.188 0.000 7.907 8.467 ston0.14 4852 0.064 0.566 1.352 Upper 95% Coefficients Standord Error Stot 8.189 0.959 Intercept X Variable 1Explanation / Answer
1. correlation coefficient, also known as r, R, or Pearson's r, a measure of the strength and direction of the linear relationship between two variables that is defined as the (sample) covariance of the variables divided by the product of their (sample) standard deviations.
2. Limits of correlation coefficient is Coefficient values can range from +1 to -1, where +1 indicates a perfect positive relationship, -1 indicates a perfect negative relationship, and a 0 indicates no relationship exists..
3. As r=0.25 which is positive but below 0.5, so answer is
c. There is weak positive linear relationship between two variables.
4. Eggs while be sold depending on the price of egg
Hence Eggs sold dependent and price of egg independent
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