You have the following information from 2000 pairs of randomly picked numbers from 0-9: Slope: 0.00667162...

You have the following information from 2000 pairs of randomly picked numbers from 0-9:

Slope: 0.00667162

Intercept: 4.47354107

Correlation: 0.00668018

P-value of slope: 0.76527333

How do you explain the results you got for the 2000 pairs? (Discuss the slope, intercept, correlation, p-value.)

Expert Solution

Using the output data given in the question.

Slope is 0.00667162, which is a positive value and small in magnitude. This means that for every one unit in the independent variable, there will be 0.00667162 unit increase in the dependent variable.

Intercept value is 4.4735, this means that when the independent variable is zero, the dependent variable is 4.4735. This is the minimum possible value for the dependent variable.

correlation coefficient value is 0.006680. This means that there is a small correlation between the dependent and independent variable.

This shows us that there is very weak relationship between dependent and independent because the strength of relationship is 0.006680. Direction of relationship is positive as the sign of correlation coefficient is positive.

P value of slope is 0.7653, which is greater than alpha level of 0.05. So, we can say that the p value is insignificant as it is greater than significant level. We can interpret that the slope value is insignificant and there is no relationship between dependent and independent variable.

milcah answered 5 months ago

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