Answer :
The most logical order for the steps in correlation analysis is as follows:
1. Make scatter diagram.
2. Calculate a correlation coefficient.
3. Draw a least squares fit line.
The first step in correlation analysis is to create a scatter diagram, which involves plotting the paired data points on a graph. This helps visualize the relationship between the variables and provides an initial understanding of the data distribution.
Once the scatter diagram is created, the next step is to calculate a correlation coefficient. This numerical value quantifies the strength and direction of the relationship between the variables. It indicates the degree of linear association between the variables and ranges from -1 to 1, with positive values indicating a positive correlation, negative values indicating a negative correlation, and values close to zero indicating a weak or no correlation.
Finally, after obtaining the correlation coefficient, one can draw a least squares fit line. This line represents the best linear approximation of the relationship between the variables. It is obtained by minimizing the sum of the squared differences between the observed data points and the predicted values on the line. The least squares fit line provides a visual representation of the trend or pattern observed in the data and can help in making predictions or drawing conclusions about the relationship between the variables.
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