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Bivariate Data - A pair of variables from a data set with at least two…
Bivariate Data
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A pair of variables from a data set with at least two variables
Predictions
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Estimates or guesses about future outcomes based on current information or data.
Extrapolation
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The process of estimating unknown values outside the range of known data points, often used to predict future trends or outcomes.
Interpolation
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The process of estimating unknown values within the range of known data points. It's used to predict values between two existing values in a dataset.
Types of Variables
Numerical Variables
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Variables that represent numbers and can be measured or counted
Continuous Variables
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Values obtained by measuring.
Discrete Variables
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Values obtained by counting (whole numbers)
Categorical Variables
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Variables that represent groups or labels rather than numbers
Ordinal
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Categories that have a specific order or ranking, but the differences between them are not equal, like star ratings
Nominal
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Categories or labels without a specific order, like colors, brands, or types of food.
Variables
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Factors or characteristics that can change or vary
Response Variables
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Is the outcome that changes based on the explanatory variable
*(dependent variable)
Explanatory Variables
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The variable influences or explains changes in another variable
(The independent variable)
Correlation
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Measure of the relationship between two variables, showing how closely they are connected. A positive correlation means they increase or decrease together, while a negative correlation means one increases as the other decreases.
Causation
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It is the principle that one event or action (the cause) directly leads to another event or outcome (the effect).
Regression
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Shows the relationship between a dependent variable and one or more independent variables, often used to predict the dependent variable's value based on the independent variables.
