Statistical Techniques in Business and Economics
Statistical Techniques in Business and Economics
16th Edition
ISBN: 9780077639723
Author: Lind
Publisher: Mcgraw-Hill Course Content Delivery
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Chapter 13, Problem 41CE

The table below shows the number of cars (in millions) sold in the United States for various years and the percent of those cars manufactured by GM.

Chapter 13, Problem 41CE, The table below shows the number of cars (in millions) sold in the United States for various years

Use a statistical software package to answer the following questions.

  1. a. Is the number of cars sold directly or indirectly related to GM’s percentage of the market? Draw a scatter diagram to show your conclusion.
  2. b. Determine the correlation coefficient between the two variables. Interpret the value.
  3. c. Is it reasonable to conclude that there is a negative association between the two variables? Use the .01 significance level.
  4. d. How much of the variation in GM’s market share is accounted for by the variation in cars sold?
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Statistical Techniques in Business and Economics

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