Correlation and Regression

In statistics, two variables are said to be correlated if the values of one variable are associated with the other variable. Depending on the relationship …

The correlation coefficient, r, developed by Karl Pearson in the early 1900s, is numerical and provides a measure of strength and direction of the linear …

The correlation coefficient, r, developed by Karl Pearson in the early 1900s, is numerical and provides a measure of strength and direction of the linear …

Regression analysis is a statistical tool that describes a mathematical relationship between a dependent variable and one or more independent variables. …

An outlier is an observation of data that does not fit the rest of the data. It is sometimes called an extreme value. When you graph an outlier, it will …

The vertical distance between the actual value of y and the estimated value of y. In other words, it measures the vertical distance between the actual …

A residual plot is a statistical representation of data used to analyze correlation and regression results. It helps verify the requirements for drawing …

An important characteristic of any set of data is the variation in the data. In some data sets, the data values are concentrated closely near the mean; in …

The interval estimate of any variable is known as the prediction interval. It helps decide if a point estimate is dependable. However, the point estimate …

Multiple regression assesses a linear relationship between one response or dependent variable and two or more independent variables. It has many practical …