In: Statistics and Probability
describe a simple linear relationship either in your every day life or in the business world
A simple linear relationship.
A linear relationship is of the form:
One of the most common linear relationships found nowadays are on the various car renting apps. They charge you a fixed amount as a fixed charge for renting the car and then we have the per kilometer charge. So here the number of kilometers traveled and the cost of the trip will be linearly related to one another. These two will exhibit a linear relationship, as mathematics relates the two with a simple equation mentioned above.
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