4.- The following table gives the total sales (revenue) and profits of 8 retailers Total sales and revenues for 8 retailers . Company Total sales Profits (millions of $) (millions of $) Adams 9.5 0.5 Browns 22.0 1.4 Clay 35.0 1.8 Domers 64.0 3.0 Esters 27.5 0.9 Framer 45.0 2.6 Gillies 15.0 0.8 Hays 57.0 2.2 Let p be the revenue of profits for 8 retailers at t total sales. A reasonable model is p = 0.04t+ 0.17 a) Construct a scatterplot. c) [ ] Describe the four characteristics of the association. You don't need to computer a)Outliers or not outliers? c) Strength b) Linear or non-linear? dj Direction: What does it mean in this situation?
4.- The following table gives the total sales (revenue) and profits of 8 retailers Total sales and revenues for 8 retailers . Company Total sales Profits (millions of $) (millions of $) Adams 9.5 0.5 Browns 22.0 1.4 Clay 35.0 1.8 Domers 64.0 3.0 Esters 27.5 0.9 Framer 45.0 2.6 Gillies 15.0 0.8 Hays 57.0 2.2 Let p be the revenue of profits for 8 retailers at t total sales. A reasonable model is p = 0.04t+ 0.17 a) Construct a scatterplot. c) [ ] Describe the four characteristics of the association. You don't need to computer a)Outliers or not outliers? c) Strength b) Linear or non-linear? dj Direction: What does it mean in this situation?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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![### Analyzing Retailers' Sales and Profits
The table below illustrates the total sales (revenue) and corresponding profits for eight retailers:
#### Total sales and revenues for 8 retailers
| Company | Total Sales (millions of $) | Profits (millions of $) |
|----------|-----------------------------|-------------------------|
| Adams | 9.5 | 0.5 |
| Browns | 22.0 | 1.4 |
| Clay | 35.0 | 1.8 |
| Domers | 64.0 | 3.0 |
| Esters | 27.5 | 0.9 |
| Framer | 45.0 | 2.6 |
| Gillies | 15.0 | 0.8 |
| Hays | 57.0 | 2.2 |
Given the data above, we want to model the revenue \(p\) based on total sales \(t\). A reasonable model for the relationship is:
\[ p = 0.04t + 0.17 \]
### a) Constructing a Scatterplot
A scatterplot is a graphical representation of two variables' values. You will plot Total Sales on the x-axis and Profits on the y-axis. Each company’s data forms a point on the graph.
(Detailed steps for constructing the scatterplot are not shown, but it involves placing each company's (Total Sales, Profits) coordinates appropriately on a graph.)
### c) Characteristics of the Association
When describing the association between total sales and profits, consider these four characteristics:
1. **Outliers or Not Outliers**: Determine if there are any points that deviate significantly from the general pattern of the data.
- [To be filled in based on observation from scatterplot]
2. **Linear or Non-linear**: Identify if the relationship between sales and profits appears to follow a straight line or curves.
- [To be filled in based on observation from scatterplot]
3. **Strength**: Assess how closely the data points fit the model; a stronger association means points are closer to the model line.
- [To be filled in based on observation from scatterplot]
4. **Direction**: Determine whether the relationship is positive (both variables increase together) or negative](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fac4cc8d8-0cf8-4dd0-a514-815d4b227054%2F3d6deaf3-8918-4991-930e-7b3abddfe731%2Fr1viubc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:### Analyzing Retailers' Sales and Profits
The table below illustrates the total sales (revenue) and corresponding profits for eight retailers:
#### Total sales and revenues for 8 retailers
| Company | Total Sales (millions of $) | Profits (millions of $) |
|----------|-----------------------------|-------------------------|
| Adams | 9.5 | 0.5 |
| Browns | 22.0 | 1.4 |
| Clay | 35.0 | 1.8 |
| Domers | 64.0 | 3.0 |
| Esters | 27.5 | 0.9 |
| Framer | 45.0 | 2.6 |
| Gillies | 15.0 | 0.8 |
| Hays | 57.0 | 2.2 |
Given the data above, we want to model the revenue \(p\) based on total sales \(t\). A reasonable model for the relationship is:
\[ p = 0.04t + 0.17 \]
### a) Constructing a Scatterplot
A scatterplot is a graphical representation of two variables' values. You will plot Total Sales on the x-axis and Profits on the y-axis. Each company’s data forms a point on the graph.
(Detailed steps for constructing the scatterplot are not shown, but it involves placing each company's (Total Sales, Profits) coordinates appropriately on a graph.)
### c) Characteristics of the Association
When describing the association between total sales and profits, consider these four characteristics:
1. **Outliers or Not Outliers**: Determine if there are any points that deviate significantly from the general pattern of the data.
- [To be filled in based on observation from scatterplot]
2. **Linear or Non-linear**: Identify if the relationship between sales and profits appears to follow a straight line or curves.
- [To be filled in based on observation from scatterplot]
3. **Strength**: Assess how closely the data points fit the model; a stronger association means points are closer to the model line.
- [To be filled in based on observation from scatterplot]
4. **Direction**: Determine whether the relationship is positive (both variables increase together) or negative
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