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Comparing the amount of money people

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Regression and Correlation are two of the most often used and abused tools in research. People are quick to jump to conclusions that if a relationship or correlation exists between two variables, then one must cause (causation) the other. There are many reasons why two variables can be related without causality. Please respond to the following:

-Comparing the amount of money people spend and the amount people save, your analysis revealed an R-squared = 0.97. Should you use this for predictive purposes and WHY?

-Comparing the number of cops on our streets and the number of reported crimes, your analysis revealed an R-squared = 0.40. Should you use this for predictive purposes and WHY?

-How could this apply in the military?

Reference no: EM132580848

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