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e. Compute the correlation coefficient between quality and meal price? Round your answer to four decimal places. What is the strength of the relationship? - Select your answer - Do suppose it is likely to find a low cost restaurant in this city that is also high quality? - Select your answer -

e. Compute the correlation coefficient between quality and meal price? Round your answer to four decimal places. What is the strength of the relationship? - Select your answer - Do suppose it is likely to find a low cost restaurant in this city that is also high quality? - Select your answer -

MATLAB: An Introduction with Applications
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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d. Your assistant has computed the variance of x + y: Var(x + y) = 1.6784. Compute the covariance of and y. Round your answer to four decimal places. 0.2845 What can you say about the relationship between quality and meal price? As quality increases, price increases Is this what you would expect? Yes e. Compute the correlation coefficient between quality and meal price? Round your answer to four decimal places. What is the strength of the relationship? - Select your answer - Do suppose it is likely to find a low cost restaurant in this city that is also high quality? - Select your answer - V
Transcribed Image Text:d. Your assistant has computed the variance of x + y: Var(x + y) = 1.6784. Compute the covariance of and y. Round your answer to four decimal places. 0.2845 What can you say about the relationship between quality and meal price? As quality increases, price increases Is this what you would expect? Yes e. Compute the correlation coefficient between quality and meal price? Round your answer to four decimal places. What is the strength of the relationship? - Select your answer - Do suppose it is likely to find a low cost restaurant in this city that is also high quality? - Select your answer - V
The Chamber of Commerce in a Canadian city has conducted an evaluation of 300 restaurants in its metropolitan area. Each restaurant received a rating on a 3-point scale on typical meal price (1 least expensive to 3 most expensive) and quality (1 lowest quality to 3 greatest quality). A crosstabulation of the rating data is shown. Forty-two of the restaurants received a rating of 1 on quality and 1 on meal price, 39 of the restaurants received a rating of 1 on quality and 2 on meal price, and so on. Forty-eight of the restaurants received the highest rating of 3 on both quality and meal price. = = Quality (x) 1.95 = b. Compute the expected value and variance for quality rating, x. E(x)= (Round your answer to two decimal places) Var(x) = 0.5075 (Round your answer to four decimal places) c. Compute the expected value and variance for meal price, y. Quality x 2.09 1 2 3 Total 1 2 3 1 0.14 0.11 0.01 1 0.26 42 33 Total 105 a. Develop a bivariate probability distribution for Quality and Meal Price of a randomly selected restaurant in this Canadian city. Let x = quality rating and y = meal price. Round your answers to two decimal places. 3 Meal Price (y) 78 2 39 60 18 117 Meal Price y 2 0.13 0.20 0.06 3 0.39 3 54 48 Total 3 84 147 69 300 0.01 0.18 0.16 0.35 Total 0.28 0.49 E(y) (Round your answer to two decimal places) Var(y): 0.6019 (Round your answer to four decimal places) d. Your assistant has computed the variance of x + y: Var(x + y) = 1.6784. Compute the covariance of a and y. Round your answer to four decimal places. 0.2845 0.23 1
Transcribed Image Text:The Chamber of Commerce in a Canadian city has conducted an evaluation of 300 restaurants in its metropolitan area. Each restaurant received a rating on a 3-point scale on typical meal price (1 least expensive to 3 most expensive) and quality (1 lowest quality to 3 greatest quality). A crosstabulation of the rating data is shown. Forty-two of the restaurants received a rating of 1 on quality and 1 on meal price, 39 of the restaurants received a rating of 1 on quality and 2 on meal price, and so on. Forty-eight of the restaurants received the highest rating of 3 on both quality and meal price. = = Quality (x) 1.95 = b. Compute the expected value and variance for quality rating, x. E(x)= (Round your answer to two decimal places) Var(x) = 0.5075 (Round your answer to four decimal places) c. Compute the expected value and variance for meal price, y. Quality x 2.09 1 2 3 Total 1 2 3 1 0.14 0.11 0.01 1 0.26 42 33 Total 105 a. Develop a bivariate probability distribution for Quality and Meal Price of a randomly selected restaurant in this Canadian city. Let x = quality rating and y = meal price. Round your answers to two decimal places. 3 Meal Price (y) 78 2 39 60 18 117 Meal Price y 2 0.13 0.20 0.06 3 0.39 3 54 48 Total 3 84 147 69 300 0.01 0.18 0.16 0.35 Total 0.28 0.49 E(y) (Round your answer to two decimal places) Var(y): 0.6019 (Round your answer to four decimal places) d. Your assistant has computed the variance of x + y: Var(x + y) = 1.6784. Compute the covariance of a and y. Round your answer to four decimal places. 0.2845 0.23 1
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