What is a scatter diagram and linear correlation? How can you use a scatter diagram to visually estimate the degree of linear correlation of two random variables?
Provide an example of two specific random variables and explain how can you use correlations, to forecast one of the variables.
This could be an example: The more classes a student misses, the more likely their grades are to decrease. One variable is the absences, the other is the grade. So you can forecast the final grade of an student, based on the number of absences. There are many real examples.
Note: Please review the video below regarding the subject matter.
It is easier to calculate the correlation data using MS Excel?
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