Basic Definitions of Correlation & Regression:
Coefficient of Determination: It is the percent of variation which can be described by the regression equation.
Correlation: It is a method which is used to find out if a relationship exists between the variables.
Correlation Coefficient: It is a statistic or parameter that measures the strength and direction of a relationship among two variables.
Dependent Variable: It is a variable in regression or correlation that can’t be controlled, that is, it mainly depends on independent variable.
Independent Variable: It is a variable in regression or correlation that can be controlled, which is, it is independent of other variable.
Pearson Product Moment Correlation Coefficient: It is a measure of strength and direction of the linear relationship among two variables.
Regression: It is a method employed to explain the relationship among two variables.
Regression Line: This can be defined as the best fit line.
Scatter Plot: It is a plot of the data values on coordinate system. The independent variable is graphed all along the x-axis and a dependent variable all along the y-axis.
Standard Error of the Estimate: It is the standard deviation of observed values regarding the predicted values.
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