Pearson eText for Basic Business Statistics -- Instant Access (Pearson+)
14th Edition
ISBN: 9780137400119
Author: MARK BERENSON, David Levine
Publisher: PEARSON+
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Textbook Question
Chapter 2, Problem 103PS
The file Natural Gas contains the U.S. monthly average commercial and residential price for natural gas in dollars per thousand cubic feet from January 2008 through December 2016.
For the commercial price and the residential price:
a. Construct a time-series plot.
b. What pattern, if any, is present in the data?
c. Construct a
d. What conclusion can you reach about the relationship between the commercial price and the residential price?
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The distance (in kilometers) and price (in dollars) for one-way airline tickets from San Francisco to several cities are shown in the accompanying table. Complete parts a through d below.
E Click the icon to view the data on airline ticket prices.
a. Find the corelation coefficient for these data using a computer or statistical calculator. Use distance as the x-variable and price as the y-variable.
(Round to three decimal places as needed.)
r=
b. Recalculate the correlation coefficient for these data using price as the x-variable and distance as the y-variable. What effect does this have on the correlation coefficient? Select the correct choice below and fill in the answer box to
complete your choice.
(Round to three decimal places as needed.)
Airline Ticket Prices
A. The correlation coefficient is r=
The correlation coefficient decreases when the order of the variables is changed.
B. The correlation coefficient is r=
The correlation coefficient remains the same when the order of the…
Chapter 2 Solutions
Pearson eText for Basic Business Statistics -- Instant Access (Pearson+)
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