Let p be the profit (in millions of dollars) of a company for the year that is t years since 2000. Some pairs of values of t and p are shown in the following table. a. Create a scattergram of the data. Then draw a linear model Choose the correct scattergram below. (millions of dollars) (years) OA. B. 36 Ap 40- AP 40- 32 3. 28 20 16 0+ Complete parts a. to d Oc. OD Ap 40- AP 40+ 10 b. Predict when the profit will be $4 million The profit will be $4 million in the year c. What is the p-intercept of the model? What does it mean in this situation? Select the correct choice below and, if necessary filfin the answer box to complete vour choice. 22 Click to select your answer(s).
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.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images
