BMGT 230 Lecture Notes - Lecture 4: Scatter Plot, Lincoln Near-Earth Asteroid Research

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 230
• Professor: Radu Lazar

Document Summary

Intro: a scatterplot is a graph that shows the relationship between two quantitative variables, association (dofs, direction, outlier, form, strength, explanatory and response variables. Correlation numerical measure of strength/direction of linear association between two quantitative variables. *you will not need to calculate r, but you should know the formula so you can understand the properties of r. Important points: correlation does not mean causation, correlation only refers to linear associations/relationships. Variation in the model and r2: the squared correlation gives the fraction of the data"s variation accounted for the model, (r)2 = r2, because r2 is a fraction of a whole, it is usually given as a percentage. If we were to standardize both the predictor and response variables then the slope is r, and the intercept is 0. This gives us the simple equation for regression of standardized variables: