MAT201 Md 5 Case: ANOVA & Least Squares

MAT201 Md 5 Case: ANOVA & Least Squares

1.Correlation analysis is the statistical tool that measures the relationship between two items. It describes the degree to which one variable is linearly related to another. I would expect that annual income level must be linearly related with Amount spent on Car and the relationship would be positive. There must be a strong relationship between these two variables. As we can observe in the data, small annual income i.e. 15,000 has smallest amount spend on car i.e. 1,500. While, the largest annual income i.e. 117,000 has largest ...