Question

g True or False: Regression analysis is used for prediction, while correlation analysis is used to measure the strength of the association between two numerical variables. A. True B. False

Answer 1

Answer:

The given statement is true.

Step-by-step explanation:

Regression Analysis:

• Regression analysis is a technique that help us to find or define a relationship between a dependent and an independent variable.
• It helps us to predict the dependent variables with the help of independent variables.
• Various techniques are used for the prediction of independent variable.
• It is a type of predictive statistical technique and helps us to find whether there is a significant relationship between the dependent and the independent variable.

Correlation analysis:

• Correlation is a technique that help us to find or define a relationship between two variables.
• It is a measure of linear relationship between two quantities.

• It is not necessary that the that out of the two variable one needs to be dependent and the other to be independent.
• Correlation can be positive, negative or zero correlation.

Thus, the given statement is true.