A simple linear regression model was created based on 25 samples. The 95% confidence interval for the estimate of B1 is (1.5, 4.8). What is the t-statistic for B1? Report your answer in 3 decimal places.
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.
![A simple linear regression model was created based on 25 samples. The 95% confidence interval for the estimate of β₁ is (1.5, 4.8). What is the t-statistic for β₁? Report your answer in 3 decimal places.
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