Calculate the value of coefficient of correlation oetween price and supply. What is its probable error ? Interpret the value of coefficient of correlation. Price 8 10 15 17 20 22 24 25 Supply 25 30 32 35 37 40 42 45
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- ev The table below gives the list price and the number of bids received for five randomly selected items sold through online auctions. Using this data, consider the equation of the regression line, y = bo + b₁x, for predicting the number of bids an item will receive based on the list price. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant. Price in Dollars 28 33 36 42 45 Number of Bids 1 7 8 9 10 Step 1 of 6: Find the estimated slope. Round your answer to three decimal places. Table Copy Data NextTrue or false. When drawing a scatter diagram, the explanatory variable is placed along the vertical axis.Let x be the average number of employees in a group health insurance plan, and let y be the average administrative cost as a percentage of claims. x 3 7 15 32 75 y 40 35 30 26 18 (a) Make a scatter diagram of the data and visualize the line you think best fits the data. Flash Player version 10 or higher is required for this question. You can get Flash Player free from Adobe's website. (b) Would you say the correlation is low, moderate, or strong? positive or negative? strong and negative moderate and negative strong and positive low and negative low and positive moderate and positive (c) Use a calculator to verify that Σx = 132, Σx2 = 6932, Σy = 149, Σy2 = 4725, and Σxy = 2997. Compute r. (Round your answer to three decimal places.)r = As x increases, does the value of r imply that y should tend to increase or decrease? Explain. Given our value of r, we cannot draw any conclusions for the behavior of y as x increases. Given our value of r, y should tend to…
- At Bats and Hits The data below show the number of three-base hits (triples) and the number of home runs hit during the season by a random sample of MLB teams. Is there a significant relationship between the data? Triples 25 24 34 31 19 29 Home runs 312 236 301 279 276 270 Send data to Excel Part 1 of 5 Your Answer is correct (a) Draw the scatter plot for the variables. At Bats and Hits Home runs y 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 x 5 10 15 20 25 30 35 40 45 50 55 60 0 Triples Part: 1 / 5 1 of 5 Parts Complete Part 2 of 5 (b) Compute the value of the correlation coefficient. Round your answer to at least three decimal places. r=?A researcher surveyed 80 patients at a certain hospital. The histogram below gives the length of time patients waited to see a doctor at the hospital. The classes, in minutes, are 0 - 1.9, 2 - 3.9, etc., and the vertical axis represents the number of patients. 25 20 15 10 2 4 8. 10 wait time (minutes) (a) Use the histogram to determine the percent of patients that waited less than 6 minutes to see the doctor. (b) Determine the interval that contains the median wait time. **Include all decimal places** number of patientsChristine is a sales manager for a car rental company. She has a scatterplot with data regarding the years of experience of sales representatives and percent of satisfied customers. What information would the scatterplot below indicate? Select all that apply. 100 90 80 70 50 40 30 20 10 1 3 5 6 7 Years of Experience of Salesperson O Satisfaction rate is the independent variable. O Satisfaction rate is the dependent variable. O Years of experience is the independent variable. O Years of experience is the dependent variable. O Christine should consider customer satisfaction training for her more novice representatives. O There is a positive correlation between years of experience and customer satisfaction. O There is a negative correlation between years of experience and customer satisfaction. O There is no correlation between years of experience and customer satisfaction. Percent of Satisfied Customers
- (a) Make a scatter diagram of the data and visualize the line you think best fits the data. Graph Layers After you add an object to the graph you can use Graph Layers to view and edit its properties. Fill No Solution WebAssign. Graphing Tool (b) Would you say the correlation is low, moderate, or strong? positive or negative? o low and positive O strong and negative o moderate and positive O low and negative o moderate and negative O strong and positive (c) Use a calculator to verify that Ex = 135, Ex² = 6783, Ey = 148, Ey2 = 4690, and Exy = 3045. Compute r. (Round your answer to three decimal places.) r = As x increases, does the value of r imply that y should tend to increase or decrease? Explain. O Given our value of r, y should tend to decrease as x increases. O Given our value of r, y should tend to increase as x increases. O Given our value of r, y should tend to remain constant as x increases. O Given our value of r, we cannot draw any conclusions for the behavior of y as x…Select the most appropriate response. If the correlation between a person’s age and annual income is 0.60, then the coefficient of determination tells us that: 36% of the variation in a person’s annual income can be explained by the predictor variable age. 36% of a person’s annual income can be explained by their age 60% of the variation in a person’s annual income can be explained by the predictor variable age 60% of a person’s annual income can be explained by their ageUse the value of the linear correlation coefficient r to find the coefficient of determination and the percentage of the total variation that can be explained by the linear relationship between the two variables. r= 0.279 What is the value of the coefficient of determination? 2= (Round to four decimal places as needed.) Enter your answer in the answer box and then click Check Answer. Check Answer Clear All part 1 remaining MacBook Pro F12 --- FIO F7 F8 F9 F5 esc F1 F2 & @ $ 6. 7 8 9 1 2 3 4 P Y Q tab K A S F + ||
- -Using algebraic tech find the equation of the line of best fit -describe and estimate correlation.Determine if the correlation between the two given variables is likely to be positive or negative, or if they are not likely to display a linear relationship. A person's age and the clarity of their vision (positive, negative, or no correlation)