regression equation | Statistics homework help
regression equation | Statistics homework help.
Imagine that your Chief Analytics Officer has asked you to educate her on the use of Simple Regression Models. You’ve gladly shared what you learned from this course last week and this week – that Correlation and Regression are closely related. For example, the relationship between two variables, AGE (X), and INCOME (Y) can be measured by the correlation measure, ‘r’. Note that the correlation value, ‘r’ is the same between X and Y as it is between Y and X.
So your Chief Analytics Officer asks you if the simple regression equation to predict AGE from INCOME will be the same as the simple regression equation to predict INCOME from AGE. Especially if the basis is the correlation measure, ‘r’. In other words, she asks you if one equation could be used “both ways”. Start with Yes, or No, and explain your view… Or if you have a different view than someone else’s post, then discuss.