Statistical analysis has done more good as it can be useful for block chain assets prediction to estimate the price of a token when another crypto asset price is known.
In this guide, I will be using the price of xrp to predict the price of leofinance token (Wleo).
This content shall be considered under the following sub titles.
Result of analysis
Conclusion
Other images includes
Appreciation
Result of analysis
Model Summary
The model summary below presents the entry variable as the price of XRP coin. The Adjusted R square explains 9% of variance in price of leo data.
Anova
Anova table in prediction analysis presents if there is a relationship between both variables used in prediction. It has a null hypothesis that there is no relationship between the variables in consideration.
From the sig column of the table (0.000), there seems to be a significantly different hypothesis which states there is a relationship between the variables.
Correlation
The analysis if correlation shows there is a relationship between xrp and leo. But the relationship seems to be minimal with coefficient of (0.305).
This shows a positive relationship but not a strong one. This relationship indicates that as the price of xrp is in a bullish graph, it may or may not influence the price of leo to be in same bull graph. This law also applies vice versa.
Coefficient
The coefficient table explains the linear model that estimates the price of leo token when that of xrp is known.
It is as seen below under the unstandardized B column.
Price of Leo = 0.372 * price of ripple – 0.059
I shall attempt to test this model when the price of $ 0.3685 on the 17th of September, 2022.
Price of Leo = 0.372 * price of ripple – 0.059
Price of Leo = 0.372 * 0.3685 – 0.059
Price of Leo = 0.137 – 0.059
Price of Leo = $0.078
However there seem to be a difference of $0.0168.
Conclusion
This article has been able to present a odel to estimate the price of leo using xrp coin.
Other images include
Maximum and minimum value of Xrp and Leo token
From the period of June 4 – September 15, 2022
Data view mode
Variable view mode
Appreciation
I appreciate effort put by @forexbrokr to ensure appropriate formatting methods for innovative post.