The asking prices (in Rands) and the actual selling prices (in Rands), after bargaining, of 8 commodities are given below. Commodity A B C D E F G H Asking price, x 150 350 400 750 100 650 600 250 Selling price, y 120 200 400 550 80 450 350 200 Find the correlation coefficient for the above data. A. 0.8224 B. 0.3722 C. 0.9438 D. 0.5318

The asking prices (in Rands) and the actual selling prices (in Rands), after bargaining, of 8 commodities are given below. Commodity A B C D E F G H Asking price, x 150 350 400 750 100 650 600 250 Selling price, y 120 200 400 550 80 450 350 200 Find the correlation coefficient for the above data. A. 0.8224 B. 0.3722 C. 0.9438 D. 0.5318

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.5: Correlation And Causation

Problem 23PFA

See similar textbooks

Related questions

Q: In baseball, is there a linear correlation between batting average and home run percentage? Let x…

Q: The data below are the ages and annual pharmacy bills (in dollars) of 9 randomly selected employees.…

A: X:- 41, 44, 48, 51, 54, 56, 60, 64, 68 Y:- 111, 115, 118, 126, 137, 140, 143, 145, 147 Then, We…

Q: Calculate the correlation coefficient, r of the following data: Variable X 24 Variable Y 44 13 8 81…

A: We have given that, X:- 24, 13, 8, 81, 63, 36, 5 Y:- 44, 52, 42, 5, 1, 48, 15 Then, We will find…

Q: Based on the data shown below, calculate the correlation coefficient (rounded to three decimal…

A: Solution: The correlation coefficient can be calculated by using the following formula:

Q: The asking prices (in Rands) and the actual selling prices (in Rands), after bargaining, of 8…

A: sample mean (x̄) = Σx/n = 3250/8 = 406.25sample mean (ȳ) = Σy/n = 2350/8 = 293.75

Q: Consider the following data: x 4.493 4.130 3.132 2.702 4.660 5.572 y 1.010 2.995 4.984 6.982 9.007…

A: The objective is to determine the correlation coefficient for the given data:

Q: Is the number of games won by a major league baseball team in a season related to the team batting…

A: From given data, X Y X*Y X*X Y*Y 116 266 30856 13456 70756 111 282 31302 12321 79524 87 282…

Q: e 6 Calculate Coefficient of Correlation between the values of X and yu given below: Values of X: 65…

Q: Calculate the correlation coefficient for the following data sets and then plot these data sets as…

A: We need to use given data and find correlation coefficient.

Q: The following data gives the number of hours 10 students spent studying and their corresponding…

A: Given data; hours spent studying x midterm grades y x2 y2 x⋅y 0.5 66 0.25 4356 33 1 69 1…

Q: 3. The following are the measurements of the height ten men. weight of 66 68 76 71 70 Height…

A: The question is about correlation Given : To find : a ) Correlation coefficient and to show it is…

Q: In baseball, is there a linear correlation between batting average and home run percentage? Let x…

A: Solution: x y x2 y2 xy 0.251 1.1 0.063 1.21 0.2761 0.249 3.3 0.062 10.89 0.8217 0.286 5.5…

Q: The following data gives the number of hours 10 students spent studying and their corresponding…

A: Given,

Q: Consider the relationship between the number of bids an item on eBay received and the item's selling…

A: Given data, X Y X*Y X*X Y*Y 23 10 230 529 100 26 14 364 676 196 29 15 435 841 225 38 19…

Q: The following data gives the number of hours 77 students spent studying and their corresponding…

A: Given - Hours spent studying 0 3 4 4.5 5 5.5 6 Midterm Grades 63 66 69 78 81 87 93 n = 7

Q: The Mindfulness index(X) and Work performance index (Y) of employees of a company is given in the…

A: The formula for the correlation coefficient is : r=∑ixi-xyi-y∑ixi-x2.∑iyi-y2 X Y (xi-x) (yi-y)…

Q: 2. Calculate Karl Pearsons co-efficient of correlation from the students. n Inches: x = 62 58 65 y =…

A: Given: The values are as follows x y 62 50 58 43 65 51 63 52 56 48 59 51 60 53…

Q: The data below are the final exam scores of 10 randomly selected calculus students and the number of…

A: From the provided information, Hours (x) Scores (y) 5 71 7 86 4 66 10…

Q: The following data gives the number of hours 1010 students spent studying and their corresponding…

A: Provided information is ; Hours Spent Studying(x) Midterm Grades(y) 0.5 60 0.5 60 1 63 1…

Q: The data below shows the annual salaries (in millions) and the number of viewers (in millions) of…

A: The given data set: x y x2 y2 xy 98 17 9604 289 1666 10 4.1 100…

Q: The following data gives the number of hours 1010 students spent studying and their corresponding…

A: The data set shows the grades of the students and number of hours spent studying on their midterm…

Q: The following data represents the grades of a sample of 12 students in statistics and economics as…

Q: The following data gives the number of hours 10 students spent studying and their corresponding…

A: Step-by-step procedure to obtain the correlation coefficient using MINITAB software:Step 1: Select…

Q: is the number of games won by a major league baseball team in a season related to the team batting…

Q: The table below gives the amount of time students in a class studied for a test and their test…

A: X values Y values 1031.52.751.52 7875908997858180

Q: From the following data calculate Spearman's rank correlation coefficient where X and Y are the…

A: Given data is X 48 33 40 9 16 16 65 24 16 57 Y 13 13 24 6 15 4 20 9 13 19

Q: Based on the data shown below, calculate the correlation coefficient (to three decimal places) y…

Q: Consider the data set shown below. Find the coefficient of correlation for between the variables x…

A: x y xy x2 y2 0 -2 0 0 4 3 0 0 9 0 2 2 4 4 4 3 4 12 9 16 8 6 48 64 36 10 8 80…

Q: instructor wants to show the students that there is a linear correlation between the number of * urs…

A: Given Given data enter in Excel sheet

Q: n baseball, is there a linear correlation between batting average and home run percentage? Let x…

Q: 46. For which of the following Pearson's r correlations would the data points be clustered most…

A: We have the following statement about The Pearson's r correlation.

Q: A) Compute the value of the linear correlation coefficient for the data obtained in the study of the…

A: Part A

Q: The following sample contains values of the price and quantity sold of a particular commodity. Use…

Q: Based on the data shown below, calculate the correlation coefficient (rounded to three decimal…

A: Calculations: From the table,

Q: The following data give the marks obtained by 10 students in Accountancy and Statistics: R. No.…

Q: The following data represents the grades of a sample of 12 students in statistics and economics as…

A: Statistics grade A C B B D B F F D C B C 1 3 2 2 4 2 6 6 4 3 2 3…

Q: The following data represents the grades of a sample of 12 students in statistics and economics as…

A: Here, A is given as rank 1, the B is given as rank 2, and so on. In this case, tie of ranks are…

Q: B- what is the sample correlation coefficient of R C- describe the type of correlation if any, and…

A: B. The sums are, X Y X2 Y2 XY 175 1.98 30625 3.9204 346.5 180 1.95 32400 3.8025 351 160…

Q: Based on the data shown below, calculate the correlation coefficient (to three decimal places) y 4.…

Q: 10. Calculate the coefficient of correlation for the following data: 500 1000 1500 2000 2500 3000…

A: From the provided information, Hours (x) Scores (y) 500 100 1000 200 1500…

Q: The asking prices (in Rands) and the actual selling prices (in Rands), after bargaining, of 8…

A: Solution: Let X be the Asking price and Y be the Selling price. The given data for X and Y is

Q: Use the graph below to determine a possible range for the correlation coefficient between the two…

Q: The following data shows the car rental companies and their cars and corresponding income in the…

A: The provided data is Company Cars (x) (in ten thousands) Income (y) (in billions) xy x2 y2…

Q: The data below are the ages and annual pharmacy bills (in dollars) of 9 randomly selected employees.…

Q: Match each scatterplot shown below with one of the four specified correlations. a. -0.62 b. 0.09 c.…

A: Given four scatter plots between X and y variables. Also four values of correlation coefficient.…

Q: File The following sample of observations were randomly selected. EXERCISES x 4 5 3 6 10 y 4 6 5 7 7…

A: Given : x y 4 4 5 6 3 5 6 7 10 7

Q: The following table compares the completion percentage and interception percentage of 55 NFL…

A: Given information: Number of NFL quarterbacks n=5 The given data of the completion percentage and…

Q: Calculate the correlation coefficient, r of the following data: Variable X 24 Variable Y 44 13 8 81…

Q: The data below are the number of hours worked (per week) and the final grades of 9 randomly selected…

A: The data below are the number of hours worked (per week) and the final grades of 9 randomly selected…

Question

100%

The asking prices (in Rands) and the actual selling prices (in Rands), after bargaining, of 8
commodities are given below.
Commodity A B C D E F G H
Asking price, x 150 350 400 750 100 650 600 250
Selling price, y 120 200 400 550 80 450 350 200
Find the correlation coefficient for the above data.
A. 0.8224
B. 0.3722
C. 0.9438
D. 0.5318

Definition Definition Statistical measure used to assess the strength and direction of relationships between two variables. Correlation coefficients range between -1 and 1. A coefficient value of 0 indicates that there is no relationship between the variables, whereas a -1 or 1 indicates that there is a perfect negative or positive correlation.

Expert Solution