Analysis of data aids to understand the interpretation attached to it. In this article, I estimated a model to predict LEO price using the price of AVAX in SPSS software.
SPSS software is used for statistical analysis of data. The following sub heading shall be considered in this article.
Model summary
The summary of our model shows two tables, the first represent our entry variable for predicting LEO price as price of AVAX.
The next table shows the summary of the model. From the adjusted R square column the model can be 84% reliable to show variance in LEO data.
Correlation
The relationship coefficient between LEO and AVAX crypto can be found in the Pearson correlation row which indicates a coefficient of 0.918.
This coefficient is closer to positive 1 axis.it means that as the price of AVAX increases, that of LEO increases as well. If the price of AVAX reduces, that of LEO will also reduce as well.
Anova Table
The anova table has its null hypothesis that there is no relationship between both prices of crypto asset. Looking at the sig.
column, there seem to be a difference in the hypothesis which proves there is a relationship between price of LEO and AVAX asset.
Coefficient table
The coefficient to estimate the price of LEO using AVAX is given by:
Price of LEO = 0.01 + 0.003 * price of AVAX
I shall test this model with data sample 302 entered on the 12th of September, 2022.
As seen below. The price of AVAX was 20.96.
Price of LEO = 0.01 + 0.003 * price of AVAX
Price of LEO = 0.01 + 0.003 * 20.96
Price of LEO = 0.01 + 0.062
Price of LEO = $0.072
As compared with the test variable, the price of LEO entered for the stated period was $0.0746. This shows a difference of $0.0026.
Conclusion
This article was able to estimate an updated model for the price of LEO when considering for the price of AVAX.
Other images includes
Data view mode
Variable view mode
Thanks for reading, I call on @forexbrokr to please kindly evaluate the format of this content.