Advanced Correlation & Regression Analysis Assignment help

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Correlation & Regression:

Correlation & regression confer with the relationship that exists between 2 variables, X and Y, within the case wherever each particular value of Xi is paired with one specific value of Yi.

Fundamentally, it's a variation on the theme of quantitative functional relationship. The more you have got of this variable, the more you have got of that one.

Correlation and regression are two sides of the same coin. Within the underlying logic, we will begin with either one or end up with the other.  We'll begin with correlation, since that's the part of the correlation-regression story with that we are probably already somewhat familiar.

The construct of correlation could be a statistical tool that studies the connection between 2 variables and Correlation Analysis involves varied strategies and techniques used for studying and measuring the extent of the connection between the 2 variables.

There are 2 necessary varieties of correlation which includes:-

 (1) Positive & negative correlation

(2) Linear & Non – Linear correlation

Regression analysis suggests that the estimation or prediction of the unknown value of one variable from the known value of the other variable. It is one of the foremost necessary statistical tools that are extensively utilized in almost all sciences – Natural, Social and Physical. it is specially utilized in business and economics to check the relationship between two or a lot of variables that are connected causally and for the estimation of demand and provide graphs, price functions, production and consumption functions so on. Regression analysis was explained by M. M. Blair as follows:

Regression analysis is the proper measure of the average relationship between two or more variables in terms of the original units of the data mathematically.