True or False: Regression analysis is used for
prediction, while correlation analysis is used to measure the
strength of the association between two numerical
variables.
A. True
B. False
In performing a regression analysis involving two
numerical variables, we are assuming
A. the variances of X and Y are equal.
B. the variation around the line of regression is the same for
each X value.
C. that X and Y are independent.
D. All of these.
Which of the following...
Discussion Prompt 2: Correlation and
Regression
Correlation and regression are two important terms in
statistics. Select an area that interests you and use it to answer
the following:
Explain the difference between correlation and regression using
examples
Explain the different types of regression using examples
Check off the equations below that are accurate
A , B, C are numeric variables
A = 3, B= 2, C = 1
note , the symbol == means a test for equality, not
assignment..
3 * 5 > 2 * 6 is True
A > B or A < C is
True
3 + 5 > 2 + 6 is True
A > B and not ( A < C)
is True
A < 5 or A == 5 or A >5 is True...
In a multiple regression, why is the estimated correlation
between the coefficients beta 1 hat and beta 2 hat positive when
the correlation between regressors is negative?
Intro Discussion and Questions- Regression and Correlation:
How does correlation analysis differ from regression analysis?
What are the goals of each?
What does the correlation coefficient r measure? Be specific.
What values can it take on? What do
the values indicate?
What values can the coefficient of determination take on? What
does it measure?
What are some of the limitations of simple linear
regression?
Describe the equation for multiple linear regression; be sure to
clearly define all of its parts....
This week, we learn about regression analysis and regression “models’. Discuss the role of regression analysis in business by using examples of how these models might work to make predictions. In your discussion, consider the various components of the output and how it might be of value to understanding the data.