Correlation Coefficient, Linear Regression, Residuals

Front

What is the correlation coefficient?

Back

A statistical measure that describes the strength and direction of a relationship between two variables, ranging from -1 to 1.

Front

What does a correlation coefficient of r = 1 indicate?

Back

A perfect positive linear relationship between two variables.

Front

What does a correlation coefficient of r = -1 indicate?

Back

A perfect negative linear relationship between two variables.

Front

What does a correlation coefficient of r = 0 indicate?

Back

No linear relationship between the two variables.

Front

What does a correlation coefficient of r = 0.3 indicate?

Back

A weak positive correlation between the two variables.

Front

What is linear regression?

Back

A statistical method used to model the relationship between a dependent variable and one or more independent variables by fitting a linear equation.

Front

What is the line of best fit?

Back

A straight line that best represents the data on a scatter plot, minimizing the distance between the line and all data points.

Front

What is a residual in linear regression?

Back

The difference between the observed value and the predicted value from the regression line.

Front

How do you calculate the residual?

Back

Residual = Observed value - Predicted value.

Front

What is the purpose of calculating the correlation coefficient?

Back

To determine the strength and direction of a linear relationship between two variables.