Statistics for Business & Economics, Revised (MindTap Course List)

12th Edition

ISBN: 9781285846323

Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

Publisher: South-Western College Pub

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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 p…

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Chapter 14, Problem 63SE

A sociologist was hired by a large city hospital to investigate the relationship between the number of unauthorized days that employees are absent per year and the distance (miles) between home and work for the employees. A sample of 10 employees was chosen, and the following data were collected.

Distance to Work (miles)	Number of Days Absent
1	8
3	5
4	8
6	7
8	6
10	3
12	5
14	2
14	4
18	2

a. Develop a scatter diagram for these data. Does a linear relationship appear reason able? Explain.
b. Develop the least squares estimated regression equation.
c. Is there a significant relationship between the two variables? Use α = .05.
d. Did the estimated regression equation provide a good fit? Explain.
e. Use the estimated regression equation developed in part (b) to develop a 95% confidence interval for the expected number of days absent for employees living 5 miles from the company.

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Chapter 14, Problem 62SE

Chapter 14, Problem 64SE

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Chapter 14 Solutions

Statistics for Business & Economics, Revised (MindTap Course List)

Ch. 14.2 - Given are five observations for two variables, x...Ch. 14.2 - Given are five observations for two variables, x...Ch. 14.2 - Given are five observations collected in a...Ch. 14.2 - The following data give the percentage of women...Ch. 14.2 - Elliptical trainers are becoming one of the more...Ch. 14.2 - The National Football League (NFL) records a...Ch. 14.2 - A sales manager collected the following data on...Ch. 14.2 - The American Association of Individual Investors...Ch. 14.2 - Using a global-positioning-system (GPS)-based...Ch. 14.2 - On March 31, 2009, Ford Motor Companys shares were...

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Solution Summary: The author illustrates the linear relationship between distance to work (mile) and number of absent days in a large city hospital.

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