The following are the age (in years) and prlce 500- dollars) data for a certain type of car. A scatterplot of the data is given to the right 400-6 300- 6 1 3 4 4 1 5 Age (x) Price (y) 265 256 277 407 362 297 330 309 401 306 6. 7 200- 0246 8 10 a. Obtain the linear correlation coefficient. b. Interpret the value of r in terms of the linear relationship between the two variables. c. Discuss the graphical interpretation of the value of r. d. Obtain the value of the coefficient of determination by squaring r. (Round to three decimal places as needed.) a.r=
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
| Age(x) | price(y) | xy | x2 | y2 | |
| 6 | 265 | 1590 | 36 | 70225 | |
| 7 | 256 | 1792 | 49 | 65536 | |
| 6 | 277 | 1662 | 36 | 76729 | |
| 1 | 407 | 407 | 1 | 165649 | |
| 3 | 362 | 1086 | 9 | 131044 | |
| 4 | 297 | 1188 | 16 | 88209 | |
| 5 | 330 | 1650 | 25 | 108900 | |
| 4 | 309 | 1236 | 16 | 95481 | |
| 1 | 401 | 401 | 1 | 160801 | |
| 5 | 306 | 1530 | 25 | 93636 | |
| 42 | 3210 | 12542 | 214 | 1056210 | Total |
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