QTM 100 Final: Stats part 3 review sheet (info after midterm 2 until final)

• School: Emory University
• Department: Quantitative Theory & Methods
• Course: QTM 100
• Professor: Prof.Gong

Document Summary

Correlation: r is btwn -1 & 1, sign denotes direction, unit-less, same correlation no matter which is treated as the response variable, not resistant to outliers. 0 < |r| < 0. 3 - weak association 0. 3 < |r| < 0. 7 - moderate association 0. 7 < |r| < 1. 0 - strong association. : 0 test significance & calculate a ci for. Assume that both x and y are approximately normally distributed. A significant result does not imply a strong linear relationship. Estimated linear regression equation: is the predicted value (or estimated value) of y for a particular x o. = intercept - this is the predicted value of y when both x1 = 0. = slope associated with x1 (shows direction & magnitude of association) interpretation: additional 1 (x-axis. 1 unit)/(y-axis unit) is associated with blank slope increase. Distance between an observed data point and the fitted line: line of best fit is calculated by minimizing: