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Correlation and Regression
Posted on : 2023-03-20 16:40:11 | Author : IGNOU Academy | View : 50
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Correlation and regression are two statistical concepts that are commonly used to analyze the relationship between two variables. Although they are related to each other, they have different definitions and purposes. Here are the differences between correlation and regression :
| Correlation | Regression | |||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Correlation measures the strength and direction of the relationship between two variables. | Regression models the relationship between two variables by estimating the equation of a line or curve that best fits the data. | |||||||||||||||||||||||||||||||||||||||||||||||
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What price per unit must be charged in order to make this maximum profit? types of discounts A stereo manufacturer determines that in order to sell x units of a new stereo, the price per unit, in rupees, must be p(x)= 1000 - x. The manufacturer also determines that the total cost of producing x units is given by C(x) = 3000 + 20x. Why do we prefer standard deviation to quartile deviation as a measure of dispersion? Solve the following equations by using Cramer’s Rule. Time series Welcome to IGNOU Academy Click to Contact Us Call - 9199852182 Call - 9852900088 myabhasolutions@gmail.com WhatsApp - 9852900088 | ||||||||||||||||||||||||||||||||||||||||||||||||
