This content will use statistical techniques and model to examine the performance of ETHEREUM and LEO price under the following sub section.
Correlation analysis of ETHEREUM and LEO Price
Prediction Model For LEO Price Using ETHEREUM
Maximum And Minimum Price Of ETHEREUM and LEO Price.
Conclusion
Other Relevant Images
Correlation analysis of ETHEREUM and LEO Price
Correlation analysis proves the type of relationship that exists between the price of ETHEREUM and LEO. The result of analysis can be seen below.
With a coefficient of 0.279 shows that the relationship is positive but at a lesser strength. A positive correlation entails that as the price of ETHEREUM pumps that of LEO will also pump and vice versa.
It is incumbent to note the rate at which this happens. It simply means that if the price of ETHEREUM pumps at a rate of 100% that of LEO will pump at a rate of 20- 30% range. If ETHEREUM dumps 100% indicates the price of LEO will dump 70 -80%.
Prediction Model For LEO Price Using ETHEREUM
The table below shows the variable needed to be entered in order to determine the price of LEO is the price of ETHEREUM.
The table below the entry variable table shows that the model explains 7% of variance in LEO price.
The model to estimate the price of LEO is given by;
Price of LEO = 0.064 + 0.000003559 * Price of ETHEREUM
We shall attempt to prove if this model predicts the price of LEO precisely as compared to entry variable.
Considering the price of LEO on the 3rd of October, 2022, the price of ETHEREUM was $1320.88
Price of LEO = 0.064 + 0.000003559 * Price of ETHEREUM
Price of LEO = 0.064 + 0.000003559 * 1320.88
Price of LEO = 0.064 + 0.00470
Price of LEO = $0.0687
However, there seem to be a difference of $0.0113 when compared with the entered price of LEO.
Maximum And Minimum Price Of ETHEREUM and LEO Price
The maximum and minimum price of ETHEREUM and LEO can be seen in the table below.
The mean price indicates that during the period of June – October, 2022 the price of ETHEREUM ranges in between $1507.11 above and below this can also be referred to as the average price of ETHEREUM.
The mean price of LEO within the specified period above ranges between $0.0695 above and below. It is also called the average price of LEO.
Conclusion
This article has been able to examine the relationship between ETHEREUM and LEO which is a positive one, it also predicts the model for LEO price using price of ETHEREUM.
However, to obtain a more precise value, the price of LEO ought to be regularly updated on coinmarket cap and coingecko.
Other Relevant Images
Other relevant images as regards this analysis are;
Data view
Variable view
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