Statistics: Scatter Plots, Correlation and Regression Analysis, Quizzes of Business Statistics

Download Statistics: Scatter Plots, Correlation and Regression Analysis and more Quizzes Business Statistics in PDF only on Docsity! TERM 1 Scatter Plot DEFINITION 1 can be used to show the relationship between two variables TERM 2 Correlation Analysis DEFINITION 2 is used to measure the strength of the association (linear relationship) between two variables TERM 3 Regression Analysis DEFINITION 3 used to predict the value of a dependent variable based on the value of at least one independent variableexplain the impact of changes in an independent variable on the dependent variable TERM 4 Dependent Variable DEFINITION 4 the variable we wish to predict or explain TERM 5 Independent Variable DEFINITION 5 the variable used to predict or explain the dependent variable TERM 6 Simple Linear Regression Model DEFINITION 6 - only one independent variable, x-relationship between x and y is described by a liner function-changes in Y are assumed to be related to changes in X TERM 7 Types of Relationships DEFINITION 7 LinearCurvilinear TERM 8 Y= Bo + BiXi + Ei DEFINITION 8 y= dependent variableBo= population, y interceptBi=population slope coefficientXi=independent variableEi=random error term TERM 9 Simple Linear Regression Equation DEFINITION 9 provides an estimate of the population regression line TERM 10 Finding the Least Squares Equation DEFINITION 10 The coefficient Bo and Bi and other regression results in this chapter, will be found using Excel