OBJECTIVES 2-2 LINEAR REGRESSION

Slides:

Advertisements

Similar presentations

Linear Equations Review. Find the slope and y intercept: y + x = -1.

Advertisements

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide SUPPLY AND DEMAND Understand the slopes of the supply and demand curves. Find.

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide INTERPRET SCATTERPLOTS Graph bivariate data. Interpret trends based on scatterplots.

Copyright © 2008 Pearson Education, Inc. Chapter 1 Linear Functions Copyright © 2008 Pearson Education, Inc.

McGraw-Hill/IrwinCopyright © 2009 by The McGraw-Hill Companies, Inc. All Rights Reserved. Simple Linear Regression Analysis Chapter 13.

4.2 Introduction to Correlation Objective: By the end of this section, I will be able to… Calculate and interpret the value of the correlation coefficient.

Holt Algebra Curve Fitting with Linear Models 2-7 Curve Fitting with Linear Models Holt Algebra 2 Lesson Presentation Lesson Presentation.

Regression Regression relationship = trend + scatter

Introduction to regression 3D. Interpretation, interpolation, and extrapolation.

Slide Slide 1 Warm Up Page 536; #16 and #18 For each number, answer the question in the book but also: 1)Prove whether or not there is a linear correlation.

5-6 HISTORICAL AND EXPONENTIAL DEPRECIATION

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide THE PROFIT EQUATION Determine a profit equation given the expense and revenue.

Chapter 11 Correlation and Simple Linear Regression Statistics for Business (Econ) 1.

Transformations.  Although linear regression might produce a ‘good’ fit (high r value) to a set of data, the data set may still be non-linear. To remove.

Section 2.6 – Draw Scatter Plots and Best Fitting Lines A scatterplot is a graph of a set of data pairs (x, y). If y tends to increase as x increases,

5.4 Line of Best Fit Given the following scatter plots, draw in your line of best fit and classify the type of relationship: Strong Positive Linear Strong.

Financial Statistics Unit 2: Modeling a Business Chapter 2.2: Linear Regression.

Scatter Plots, Correlation and Linear Regression.

7-3 Line of Best Fit Objectives

Chapter 3-Examining Relationships Scatterplots and Correlation Least-squares Regression.

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide SUPPLY AND DEMAND Understand the slopes of the supply and demand curves. Find.

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide LINEAR REGRESSION Be able to fit a regression line to a scatterplot. Find and.

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide INTERPRET SCATTERPLOTS Graph bivariate data. Interpret trends based on scatterplots.

Scatterplots and Linear Regressions Unit 8. Warm – up!! As you walk in, please pick up your calculator and begin working on your warm – up! 1. Look at.

Unit 4 Lesson 3 (5.3) Summarizing Bivariate Data 5.3: LSRL.

© 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide BREAKEVEN ANALYSIS Determine the breakeven prices and amounts using technology.

Chapters 8 Linear Regression. Correlation and Regression Correlation = linear relationship between two variables. Summarize relationship with line. Called.

2 MODELING A BUSINESS 2-1 Interpret Scatterplots 2-2 Linear Regression

Warm – Up: Put the following correlation values in order from weakest to strongest. 0.29, -0.87, -0.41, 0.03, -0.59, -0.92, , 0.29, -0.41, -0.59,

Lesson 4.5 Topic/ Objective: To use residuals to determine how well lines of fit model data. To use linear regression to find lines of best fit. To distinguish.

Entry Task What is the slope of the following lines? 1) 2y = 8x - 70

Least Squares Regression Line.

Regression and Median-Fit Lines

AP Statistics Chapter 14 Section 1.

Warm-up Positive, Negative, or No Correlation?

Chapter 5 LSRL.

Chapter 3.2 LSRL.

The Least-Squares Regression Line

Warm-up Positive, Negative, or No Correlation?

Describe the association’s Form, Direction, and Strength

CHAPTER 10 Correlation and Regression (Objectives)

Unit 2.2 Linear Regression

Fitting Linear Functions to Data

Investigating Relationships

More Correlation Practice

Algebra 1 Section 6.6.

Least Squares Regression Line LSRL Chapter 7-continued

4.5 Analyzing Lines of Fit.

Unit 3 – Linear regression

Chapter 1 Linear Functions

Scatter Plots and Best-Fit Lines

Lesson 5.7 Predict with Linear Models The Zeros of a Function

Example 2: Finding the Least-Squares Line The table shows populations and numbers of U.S. Representatives for several states in the year 2000.

Chapter 5 LSRL.

Chapter 5 LSRL.

Chapter 5 LSRL.

Least-Squares Regression

y = mx + b Linear Regression line of best fit REMEMBER:

Lesson – How can I measure my linear fit? - Correlations

Scatterplots line of best fit trend line interpolation extrapolation

A medical researcher wishes to determine how the dosage (in mg) of a drug affects the heart rate of the patient. Find the correlation coefficient & interpret.

Lesson 2.2 Linear Regression.

More Correlation Practice

Regression and Correlation of Data

Slope Intercept Form Algebra 1 Unit 4 Lesson 2.

Presentation transcript:

OBJECTIVES 2-2 LINEAR REGRESSION Banking 4/19/2017 2-2 LINEAR REGRESSION OBJECTIVES Be able to fit a regression line to a scatterplot. Find and interpret correlation coefficients. Make predictions based on lines of best fit. Chapter 1

Key Terms line of best fit linear regression line least squares line domain range interpolation extrapolation correlation coefficient strong correlation weak correlation moderate correlation

Example 1 Find the equation of the linear regression line for Rachael’s scatterplot in Example 1 from Lesson 2-1. Round the slope and y-intercept to the nearest hundredth. The points are given below. (65, 102), (71, 133), (79, 144), (80, 161), (86, 191), (86, 207), (91, 235), (95, 237), (100, 243)

Example 2 Interpret the slope as a rate for Rachael’s linear regression line. Use the equation from Example 1.

CHECK YOUR UNDERSTANDING Approximately how many more water bottles will Rachael sell if the temperature increases 2 degrees?

EXAMPLE 3 How many water bottles should Rachael pack if the temperature forecasted were 83 degrees? Is this an example of interpolation or extrapolation? Round to the nearest integer.

EXAMPLE 4 Find the correlation coefficient to the nearest hundredth for the linear regression for Rachael’s data. Interpret the correlation coefficient.

CHECK YOUR UNDERSTANDING Find the equation of the linear regression line of the scatterplot defined by these points: (1, 56), (2, 45), (4, 20), (3, 30), and (5, 9). Round the slope and y-intercept to the nearest hundredth. Find the correlation coefficient to the nearest thousandth. Interpret the correlation coefficient.

EXTEND YOUR UNDERSTANDING Carlos entered data into his calculator and found a correlation coefficient of -0.28. Interpret this correlation coefficient.