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What are the requirements of the least-squares regression model? What is a correlation matrix? How can...


What are the requirements of the least-squares regression model?

What is a correlation matrix?

How can you use technology to find a multiple regression equation?

Why is it important to perform graphical as well as analytical analyses when analyzing relations between two quantitative variables?

Math   Statistics-And-Probability   
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Answer #1

Answer:

The requirements of the least-squares regression model:

  1. each explanatory variable in the function is multiplied by an unknown parameter,
  2. there is at most one unknown parameter with no corresponding explanatory variable, and
  3. all of the individual terms are summed to produce the final function value

correlation matrix:

A correlation matrix is a table showing correlation coefficients between sets of variables. Each random variable (Xi) in the table is correlated with each of the other values in the table (Xj). This allows you to see which pairs have the highest correlation.

There are different methods for correlation analysis : Pearson parametric correlation test, Spearman and Kendall rank-based correlation analysis. These methods are discussed in the next sections.

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