Prediction analysis using statistical technique is a method of estimating the price of a variable when another is known. I will be using the price of ETHEREUM to predict for HIVE price.
The following shall be considered in due course.
Model summary
Test Of Relationship between ETHEREUM and HIVE
Model For Predicting HIVE price using ETHEREUM price
Conclusion
Other images
Model summary
Summary of the model shows the variable needed to be entered is price of HIVE which can be seen in the first table.
The second table shows the price of ETHEREUM explains 6% of variance in HIVE price.
Test Of Relationship between ETHEREUM and HIVE
The result of relationship test can be seen in the anova table.
I wouldn’t like to consider interpreting the bulky values but just take a look at the last column where you find “Sig.” you find 0.00, this means rejection. The Anova table proves whether there is a relationship between ETHEREUM and HIVE price, it has the belief (null hypothesis) there is no relationship but when considering the sig. value, we have to reject the belief because there is a relationship between both crypto assets.
Model For Predicting HIVE price using ETHEREUM price
The model for predicting HIVE price using the price of ETHEREUM is given by the unstandardized B Coefficient.
Price of HIVE = 0.481 + 0.00002371 * Price of ETHEREUM
We shall attempt to find the price of HIVE crypto when the price of ETHEREUM is $1308.38
Price of HIVE = 0.481 + 0.00002371 * Price of ETHEREUM
Price of HIVE = 0.481 + 0.00002371 * 1308.38
Price of HIVE = 0.481 + 0.031
Price of HIVE = $0.512
The estimated price of HIVE using the model when considering for ETHEREUM price at $1308.38 is $0.512.
It can be seen that when compared to the entered value of $0.5377, there seem to be a difference of $ 0.02.
The difference of $0.02 shows the model is good in predicting the price of HIVE, to be more useful, the price needs be updated with future values.
Conclusion
This article presented a model to estimate the price of HIVE when the price of ETHEREUM is known.
Other images
Other images relevant to this analysis are;
Maximum and minimum prices of both Crypto Assets
Data view mode of both Crypto Assets
##Variable view mode of both Crypto Assets
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