This website uses cookies to ensure you have the best experience.

# Applying Correlation Essay

1282 words - 6 pages

Data File 4

Chapter Seven

Problem 1) Look at the scatter plot below. Does it demonstrate a positive or negative correlation? Why?
Are there any outliers? What are they?

Answer: This scatter plot demonstrates a positive correlation because the values of Y increase with the increasing values of X with the correlation becoming stronger forming a positive slope. Yes there is an outlier. The second to the last data element is an outlier because it stands out from the rest of the data elements.

Problem 2) Look at the scatter plot below. Does it demonstrate a positive or negative correlation? Why?
...view middle of the document...

The relationship is negative. The increase in the number of calories lead to a decrease in the infant mortality rate.

Problem 4)

Bill is doing a project for you in the marketing department. In conducting his analysis regarding consumer behavior and a new product that has come out, he tells you the correlation between these two variables is 1.09. What is your response to this analysis?

Answer: The analysis indicates a significant positive relationship between the two variables. New products have a positive impact on consumer behavior.

Problem 5)

Judy has conducted an analysis for her supervisor. The results she obtained was a correlation coefficient that was negative 0.86. Judy is confused by this number and feels that because it is negative and not positive, is means that it is bad. You are here supervisor. How would you clarify this result for Judy regarding the meaning of the correlation?

Answer: A negative coefficient does not necessarily mean the figure is bad, it means that the relationship between the variables is inversely proportional. This means that an increase in one variable leads to a decrease for the other variable.

Problem 6)

Explain the statement, “correlation does not imply causality.”

Answer: This phrase is basically saying that the correlation between two variables does not always mean that one variable causes the other. However, correlation is not proof of existence of causation relationships.

Problem 7)

Using the best-fit line below for prediction, answer the following questions:

a) What would you predict the price of Product X in volume of 150 to be (approximately)?

b) What would you predict the price of Product X in volume of 100 to be (approximately)?

Problem 8)

You are interested in finding out if a student’s ACT score is a good predictor of their final college grade point average (GPA). You have obtained the following data and are going to conduct a regression analysis. Follow instructions on page 244 of your textbook under line of best fit to conduct this analysis?
ACT GPA
22.0 3.0
32.0 3.78
33.0 3.68
21.0 2.94
27.0 3.38
25.0 3.21
30.0 3.65

a) What is the R? What type of relationship does it indicate (strong/weak; positive/negative)?

X Y XY XX
22 3 66 484
32 3.78 120.96 1024
33 3.68 121.44 1089
21 2.94 61.74 441
27 3.38 91.26 729
25 3.21 80.25 625
30 3.65 109.5 900

Regression: Y= b + mx
M= (NEXY – (EX)(EY))...

## Other Papers Like Applying Correlation

### Ratio of Age to Goals Scored

989 words - 4 pages It is often said that the more you do something, the better you get at it. Soccer has always been a big part of my life so I found myself thinking whether or not the saying actually made sense when applying it to sports. Some coaches and sports experts argue that the more games a player has under his belt, the more likely he is to score more goals. Others have suggested that the amount of games played does not contribute to how many goals a

### Hamilton County Judges Essay

649 words - 3 pages . After applying descriptive statistics towards the data, I was able to better understand the differences in each value. The minimum and maximum are listed for each variable, which assists in computing the range, which is the difference in the maximum value and minimum value. Next it was easy to compute the median, Q1, and Q3. When viewing the total gross sales, I divided the ascending order of values into four sections. The middle number, or

### Asssignment 1

653 words - 3 pages and ceotenure (5 Marks) 1 4. Find the sample correlation coeﬃcient between the variables log(mktval) and profits. Are these variables highly correlated? What does this say about the OLS estimators? (10 Marks) 3 Multiple Regression with Qualitative Data and Heteroskedasticity (Total Marks: 65 Marks) Use the data in LOANAPP.RAW for this exercise. The binary variable to be explained is approve, which is equal to one if a mortgage loan

### Information Systems

532 words - 3 pages , finances and analyze profit, and loss within a business. In the marketing department, information systems consist of people, equipment, scanners, surveys and procedures that a business uses to organize, and assess information needed to make accurate marketing decisions. In marketing, information is the key to success. By monitoring the purchasing habits of consumers, a marketing team can determine if there is a direct correlation between slumping

### Decision Essay

613 words - 3 pages incredible ways to improve our quality of life. Like the groundbreaking research of Edward Anthony Jenner, who discovered a correlation between smallpox and cowpox, and thus a vaccination. The first accounts of smallpox were found in ancient Egypt more than three thousand years ago. To think of how many people suffered from smallpox sheds light on how many lives were saved by the work of Jenner. His efforts pioneered an aggressive campaign to

### It460 Unit 2

624 words - 3 pages the design and development processes of an application. It is an information gathering technique used to design and develop computer-based systems. RAD is a shorter version of JAD; it reduces the time taken to develop an application (UMSL, 2014). The disadvantages of JAD are actually strengthening to a project; they just require a lot of accuracy. JAD require significant planning and scheduling to ensure the project is on task in correlation to

### Argument for Scientific literacy

1338 words - 6 pages around 590 for the control and about 590 for the experimental testing. Testing was straightforward and just consisted of collecting the statistical data from the participants. Khan does not have any biased to either side in this article, he is very neutral and does a good job at staying that way. Khan also keeps any information on the participants secret from himself unless it is directly relevant to the question at hand. The correlation

### Case Financial Report

1598 words - 7 pages “applying for loans”. So let’s find break-even point for Rajiv and Alok’s business plan. As there is no profit in break-even point, total revenue should be equal to total cost (TR=TC). Deriving from it we can find the break-even point by Q = F/(P−V). Q=F/(P-V) ==> Q= 5,740,000/2.5=2,296,000 (per year). When 2,296,000 units are sold per year, each of those units will both cover its variable costs and all associated fixed costs. If the demand is

### The Importance of Soft Skills for Postgraduates Upon Entering the Work Field

5364 words - 22 pages effectiveness, creative problem solving, strategic thinking, team building, influencing skills and selling skills, to name a few. 1.2 Problem Statement The competition amongst fresh graduates in getting hired is rapidly increasing these days. Upon getting a job, it is wise to know about the company and the position you are applying for. On the other hand, it is also important to know the employer’s perception towards an employee’s level of soft skills

### The Success Of Micro Finance In Pakistan

2503 words - 11 pages out the relationship between increase in income and increase in savings, using Pearson’s correlation test. In SPSS Pearson’s correlation tested two hypotheses stating “there is no relationship between level of income increased and level of saving increased” and “there is relationship between increase in level of income and increase in level of savings”. After applying test it is clear that there is a significance relationship between increase in

### Qnt561 Syllabus

2356 words - 10 pages ) | | | |Week Six: Correlation, Linear Regression, and Multiple Regression Analysis | | |Details |Due |Points | |Objectives

## Related Essays

### Niche Picking And Epigenisis Essay

660 words - 3 pages correlationâ€ suggests that our genes influence the environments we are exposed to. Further, the manner in which this occurs changes with age. According to the concept the correlation initially occurs passively as children have little choice about the environments in which they are placed. For instance highly musical or creative parents are likely to encourage their child to participate in musical or creative pursuits, and the childâ€™s

### “Why We Should Carry Out Research In Our Society”

909 words - 4 pages theories. However, there is no consideration of the practical applications of the findings to actual problems or situations. Such research does however often lead to further research of the practical nature and may infact provide the very basis of this further research. 2. Applied Research The type of research which is conducted for purpose of improving present practice, normally applied research is conducted for the purposes of applying or

### Alpha And Beta Essay

1501 words - 7 pages returns. The more relevant question is this: was the manager's performance sufficient to justify the risk taken to get said return? Applying the Results A positive alpha indicates the portfolio manager performed better than was expected based on the risk the manager took with the fund as measured by the fund's beta. A negative alpha means that the manager actually did worse than he or she should have given the required return of the portfolio. The

### Saving Energy Essay

2738 words - 11 pages step according to different behaviour are examined. The effectiveness of the proposed set is shown based on a static correlation between the power consumption and saving. Keywords- Energy saving, smart home, occupancy sensor. I. INTRODUCTION Smart home technology started for more than a decade to introduce the concept of device and equipment networking in house. Smart home contains internal network and intelligent control on different home's