Result For Predicting The Price of LEO Using AVAX Price

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.

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