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The regression line should be drawn on the scatter diagram in such a way that when the squared values of the vertical distance from each plotted point to the line are added, the total amount will be the smallest possible amount. This criterion is called the Method of Least Squares.
Minimizing the sum of the squared differences of each value of Y from the regression line by the method of calculus, we arrive at two equations, called the normal equations:
Solving these equations simultaneously, and using equivalent expressions for and , we obtain the following formulae used to calculate the coefficients a and b in the regression line = = a + bX
E(Y|X = x) = a + bx
Significance of Correlation The study of correlation is of immense use in practical life. Correlation analysis contributes to the understanding of economic behavior, aids in lo
In a study of outcomes for patients who had been in the Intensive care Unit (ICU) at a large hospital, the records from last 150 patients who had been in the ICU for more than one
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Year Production 2006 8 2007 6 2008 10 2009 12 2010 11 2011 15 2012 14 2013 16 Determine the trend from data given above?
Suppose that before the minimum wage law change, the underlying mean number of part-time employees per Burger King Restaurant in New Jersey was 20.3. It was thought that the increa
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how do i determine the 40th percentile in an ogive graph
TYPE I AND II Errors If a statistical hypothesis is tested, we may get the following four possible cases: The null hypothesis is true and it is accepted; The
Chebychev inequality
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