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Regression Analysis and Correlation Coefficient

Content type
User Generated
Subject
Social Science
Type
Note
Rating
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Regression Analysis:
Mean hourly wage by education
Years of
Schooling
Mean wage
(in dollars)
Number
of people
6
4.4567
3
7
5.77
5
8
5.9787
15
9
7.3317
12
10
7.3182
17
11
6.5844
27
12
7.8182
218
13
7.8351
37
14
11.0223
56
15
10.6738
13
16
10.8361
70
17
13.615
24
18
13.531
31
Hypothetical Data on Weekly Family Consumption Expenditure and
Weekly Family Income
Y = Weekly Family Consumption Expenditure, $
X = Weekly Family Income, $
Weekly Family
Consumption
Expenditure (in $)
Weekly Family
Income (in $)
70
80
65
100
90
120
95
140
110
160
115
180
120
200
140
220
155
240
150
260

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Correlation Coefficient:
Correlation is a measure of the strength of linear association between two variables. It ranges
from -1 to +1 with values close to -1 or +1 indicating a strong linear relationship and values
close to 0 indicating a weak relationship.
Marks of Students in Economics and Statistics
Students
Statistics
1
70
2
68
3
45
4
77
5
47
Rice Production and Amount of Fertilizers used
Rice Production
(in tones)
Fertilizers
(in Kgs)
52
18
58
24
64
31
69
35
79
46
84
45
92
52
Television watching and Weight
TV watching (in
hrs)
Weight (in
kgs)
1.5
79
5.0
104
3.5
96
2.5
83
4.0
99
1.0
78
0.5
68

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Regression Analysis: Mean hourly wage by education Years of Schooling Mean wage (in dollars) Number of people 6 4.4567 3 7 5.77 5 8 5.9787 15 9 7.3317 12 10 7.3182 17 11 6.5844 27 12 7.8182 218 13 7.8351 37 14 11.0223 56 15 10.6738 13 16 10.8361 70 17 13.615 24 18 13.531 31 Hypothetical Data on Weekly Family Consumption Expenditure and Weekly Family Income Y = Weekly Family Consumption Expenditure, $ X = Weekly Family Income, $ Weekly Family Consumption Expenditure (in $) Weekly Family Income (in $) 70 80 65 100 90 120 95 140 110 160 115 180 120 200 140 220 155 240 150 260 Correlation Coefficient: Correlation is a measure of the strength of linear association between two variables. It ranges from -1 to +1 with values close to -1 or +1 indicating a strong linear relationship and values close to 0 indicating a weak relationship. Marks of Students in ...
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