QNT561 University of Phoenix Direct and Inverse Relationships Discussion
Answer each question in a min of 175 words each
1.consider and discuss the following concepts:
. Direct and Inverse Relationships and examples.
. Association and Causation in terms of relationships. In particular, does correlation imply causation?
. Spurious correlation and examples.
. Measuring correlation – correlation coefficient r and its interpretation.
2.discuss the following:
Interpretation of coefficient of determination and the Use of a regression model for forecasting and prediction.
3.Discuss the role of regression analysis in business by using examples of how these models might work to make predictions. In your discussion, consider the various components of the output and how it might be of value to understanding the data.