Jobs and productivity! How do banks rate? One way to answer this question is to examine annual profits per employee. The following is data about annual profits per employee (in units of 1 thousand dollars per employee) for representative companies in financial services. Assume ? ≈ 9.2 thousand dollars. 42.5 29.2 41.8 26.4 29.9 34.8 43.2 50.9 42.5 33.0 33.6 36.9 27.0 47.1 33.8 28.1 28.5 29.1 36.5 36.1 26.9 27.8 28.8 29.3 31.5 31.7 31.1 38.0 32.0 31.7 32.9 23.1 54.9 43.8 36.9 31.9 25.5 23.2 29.8 22.3 26.5 26.7
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Jobs and productivity! How do banks rate? One way to answer this question is to examine annual profits per employee. The following is data about annual profits per employee (in units of 1 thousand dollars per employee) for representative companies in financial services. Assume ? ≈ 9.2 thousand dollars.
42.5 29.2 41.8 26.4 29.9 34.8 43.2 50.9 42.5 33.0 33.6
36.9 27.0 47.1 33.8 28.1 28.5 29.1 36.5 36.1 26.9 27.8
28.8 29.3 31.5 31.7 31.1 38.0 32.0 31.7 32.9 23.1 54.9
43.8 36.9 31.9 25.5 23.2 29.8 22.3 26.5 26.7
![Jobs and productivity! How do banks rate? One way to answer this question is to examine annual profits per employee. The following is data about annual profits per employee (in units of 1 thousand dollars per employee) for representative
companies in financial services. Assume o x 9.2 thousand dollars.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb56b60a7-0c86-4ebb-b5e7-e8d4bcc771d3%2F0f6f3aa1-1c94-4144-988c-0146bcb47edb%2Fhr6dgh_processed.png&w=3840&q=75)
![(g) Suppose the annual profits are more than 40 thousand dollars per employee. As manager of the bank, would you feel somewhat better? Explain by referring to the confidence interval you computed in part (e).
O No. This confidence interval suggests that the bank profits are higher than those of other financial institutions.
O No. This confidence interval suggests that the bank profits do not differ from those of other financial institutions.
O Yes. This confidence interval suggests that the bank profits are higher than those of other financial institutions.
O Yes. This confidence interval suggests that the bank profits do not differ from those of other financial institutions.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb56b60a7-0c86-4ebb-b5e7-e8d4bcc771d3%2F0f6f3aa1-1c94-4144-988c-0146bcb47edb%2Fsbqsn7a_processed.png&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
![Elementary Statistics: Picturing the World (7th E…](https://www.bartleby.com/isbn_cover_images/9780134683416/9780134683416_smallCoverImage.gif)
![The Basic Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319042578/9781319042578_smallCoverImage.gif)
![Introduction to the Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319013387/9781319013387_smallCoverImage.gif)