Need some assistance with participation posts for my Statistics class. Thank you Tutors
1. There are two levels of measurement that are qualitative: Nominal and Ordinal. Provide an example of each.
There are two levels of measurement that are quantitative: Interval and ratio. Provide an example of each.
2. Correlation is used to determine the strength of a relationship between two variables. What kind of variables? Quantitative ones. The result of a correlation will be a number ranging between -1 and 1.
Define how we interpret this number. Strong, weak, negative, positive. Provide an original example to support your discussion.
3. Regression is used to determine the significant factors that influence an outcome. All variables must be quantitative. For example, what predicts your final score on the exam?
Dependent variable - outcome - final score on the exam.
Independent variable - influences: There can be just one or many.
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Who else has an example of regression? Try and make it business related.