Question

) In your opinion, discuss the importance of Correlation and Regression as a tools for analysis purposes

Answer 1

solution:

given data:

In the analysis of certain data, correlation plays an important role. If we have several variables under study, then we have to check that is there any relationship between the variables. If there exists a relationship between any two variables, then we can do further analysis. Also using the correlation, we can predict value of one variable using other. Means if we consider the two variables related education and psychology, then we can study the high relationship among this two variables.

When there high correlation among the two or several variables. And we want to predict the value one variable in future using another independent variables. Dependent variable may depends on one of several variables simultaneously. To predict the the value of dependent variable we use the function of dependent variable and independent variables. This function is also known as regression equation. To use the regression equation, correlation is very important part of the analysis. Without correlation we can't use any regression equation.

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