Correlation and Regression Analysis
Correlation and regression analysis are powerful statistical tools that help us understand and quantify relationships between variables. These techniques allow us to identify patterns, make predictions, and draw meaningful conclusions from data.
Scatter Plots
A Scatter plot is a graphical representation that displays the relationship between two numerical variables. Each point on the plot represents a pair of values (x, y) from the dataset.
- The independent variable (predictor) is typically plotted on the x-axis
- The dependent variable (response) is typically plotted on the y-axis
Scatter plots help us visualize patterns and trends in the data, revealing whether there might be a relationship between the variables.