2. Describe the difference between correlation and prediction (regression) analysis approaches?

Expert Solution

In case of correlation between two variables the coefficient of correlation measures the strength of the association which lies between two variables it actually measures the strength of the variables and in which direction they are really associated which may be positive or it is negative . more the value of correlation coefficient more would be the strength of correlation for the measure of association the correlation coefficient generally lies between -1 to +1 Inclusive . where -1 means perfect negative correlation , + 1 means perfect positive correlation and 0 means no correlation .

But on the other half in regression analysis we actually put the value in scatter plot and try to fit those points with best possible line that is the regression line and is an it is used to estimate one variable with help of another variable it is generally used for prediction purpose .

They both are statistical tools for analysis .

orchestra answered 2 years ago

What is the real difference between between correlation and regression analysis? I see that correlation allows...

What is the real difference between between correlation and regression analysis? I see that correlation allows us to examine whether two variables exhibit some kind of association with each other. Does correlation mean means that one variable is dependent on another? Is this an example of correlation - Tips are dependent on the actual restaurant bill? Can you give other examples of correlation and regression? Thanks.

True or False: Regression analysis is used for prediction, while correlation analysis is used to measure...

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...

Explain the difference between correlation analysis and regression analysis. Give an example of a lurking variable....

Explain the difference between correlation analysis and regression analysis. Give an example of a lurking variable. If a statistician computed a value of r = -2.83 what would you tell that statistician? Under what circumstances can we calculate r? Can the regression equation be assumed to hold 100 years from now? Are there other correlation coefficients other than the Pearson Product Moment Correlation Coefficient

difference between alignment based and de novo approaches to protein coding sequnce prediction(gene prediction)

Describe the connection between a correlation and a bivariate regression analysis. In your discussion, specifically note:...

Describe the connection between a correlation and a bivariate regression analysis. In your discussion, specifically note: 1) statistical significance, 2) sign, and 3) use or application.

Regression and correlation analysis both describe the strength of linear relationships between variables. Consider the concepts...

Regression and correlation analysis both describe the strength of linear relationships between variables. Consider the concepts of education and income. Many people would say these two variables are related in a linear fashion. As education increases, income usually increases (although not necessarily at the same rate). Can you think of two variables that are related in such a way that their relationship changes over their range of possible values (i.e., in a curvilinear fashion)? How would you analyze the relationship...

Intro Discussion and Questions- Regression and Correlation: How does correlation analysis differ from regression analysis? What...

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....

What does regression analysis test? A) Relationship between variables B) Prediction of one variable based on...

What does regression analysis test? A) Relationship between variables B) Prediction of one variable based on another variable C) Differences between variables D) Slope of the regression line

Questions about relationship* 1. Explain the relationship between correlation analysis dan regression analysis( * is relationsip,...

Questions about relationship* 1. Explain the relationship between correlation analysis dan regression analysis( * is relationsip, not difference ) 2. Explain the relationship between correlation covariance 3. Explain the relationship on this three analysis

6. What is the difference between the correlation coefficient and ?2? Why should the correlation coefficient...

6. What is the difference between the correlation coefficient and ?2? Why should the correlation coefficient be -1 and 1? 7. What is the utility of marginal effects in regression models? How are they obtained? 8. What is heterocedasticity and homocedasticity? Explain how to detect and correct the first.

Question