x (Weeks) y (Price($)) 5 34.24 6 29.12 7 30.1 8 24.68 9 25.36 10 23.84 11 19.02 12 18 (a) Based on the data shown above, compute the correlation coefficient accurate to three decimal places. r=r= (b) Find the proportion of the variation in Price that can be explained by the variation in the values of Weeks. Report your answer as a percentage accurate to one decimal place. (Example: If the answer is 0.1234, you would enter 12.3 without the percent symbol.) r2=r2= %
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
| x (Weeks) | y (Price($)) |
|---|---|
| 5 | 34.24 |
| 6 | 29.12 |
| 7 | 30.1 |
| 8 | 24.68 |
| 9 | 25.36 |
| 10 | 23.84 |
| 11 | 19.02 |
| 12 | 18 |
(a) Based on the data shown above, compute the
r=r=
(b) Find the proportion of the variation in Price that can be explained by the variation in the values of Weeks.
Report your answer as a percentage accurate to one decimal place. (Example: If the answer is 0.1234, you would enter 12.3 without the percent symbol.)
r2=r2= %
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