STATISTICAL TECHNIQUES AND TOOLS
REGRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Data is collected comparing sales of cars and the age of the salesperson. After analyzing the data, it is determined that the correlation coefficient is 0.19. What does this mean?
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There is little to no correlation between sales and age of the salesperson.
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There is a strong positive correlation between sales and age of the salesperson.
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There is a strong negative correlation between sales and age of the salesperson.
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There is a weak negative correlation between sales and age of the salesperson.
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Explanation:
Detailed explanation-1: -Data is collected comparing sales of cars and the age of the salesperson. After analyzing the data, it is determined that the correlation coefficient is 0.19. What does this mean? There is no correlation between sales and age.
Detailed explanation-2: -Using a scatterplot, we can generally assess the relationship between the variables and determine whether they are correlated or not. The correlation coefficient is a value that indicates the strength of the relationship between variables. The coefficient can take any values from-1 to 1.
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