The major importance of data is; it’s to be analyzed from which information can be derived through interpretation of an analysis. In this article, I will be predicting the price of LEO using ETH coin.
The article is summarized by the following contents.
Input variable
Correlation between ETH price and LEO price.
Normality test
Model to predict LEO price using ETH price.
Conclusion
Reccommendation
Other images.
Input variable
The input variable been considered is the price of ETH.
Correlation between ETH price and LEO price
Correlation analysis between the price of LEO and ETH shows a coefficient of 0.278.
This is a positive correlation but weak one. Positive correlation indicates that as the price of ETH rise, that of LEO rises as well but not at same rate probably at a weaker rate for LEO. This means increase in price of ETH is influential in determining increase in the price of LEO but at a weak rate.
Normality test
Normality test proves if samples are drawn from a population and useful in prediction. We can see our sample is normal and useful for prediction.
Model to predict LEO price using ETH price
The model used to predict the price of LEO using ETH can be seen in the unstandardized coefficient column.
Given by;
Price of LEO = 0.064 + 0.000003553 * ETH price
We shall test this value to when the price of ETH was $1301.80
Price of LEO = 0.064 + 0.000003553 * ETH price
Price of LEO = 0.064 + 0.000003553 * 1301.80
Price of LEO =0.064 + 0.00462
Price of LEO = 0.06862
As compared with the entered value for price LEO which was $0.05459, There seem to be a difference of $ 0.0140.
Conclusion
This article has been able to present a model for prediction of LEO price using price of ETH.
Recommendation
The estimated value of our model seem to have a big difference, this is due to insufficient data as regards the price of LEO. The price of LEO should be made available on coingekco and coinmarket cap for crypto analysis.
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