chapter 3 Flashcards
What do you look for in a correlation
strength- how close the dots are on the line
direction- positive or negative
form- linear
equation for regression line
y= a + bx
residual
y-y(hat)
interpreting residual
the actual price of this truck is 4765 less than the cost predicted by the regression line x= miles driven.
interpreting slope
the predicted price of a used Ford F-150 goes down by $0.789 for every additional mile driven.
Interpreting y-intercept
the predicted price ( in dollars) of a used Ford F-150 that has been driven 0 miles
interpret s
the actual price of a Ford f-150 is typically about $574 away from the price by the least squares regression line with x=miles driven
r^2
coefficient of determination
% of data that roughly correlates to the datat
interpret s^2
decimal concervted to percentage
about 66% of the variability in the price of a Ford F-150 is accounted for by the least squares regression line with x=miles driven.
slope
r * sy/sx
y-intercept
y-bx
mean of y and mean of x
high leverage point
points that have a smaller/larger value
influential point
point that changes slope, y-intercept, correlation, coefficient of determination, or standard deviation
