The Quick Sell car dealership has been using 1-minute spot ads on a local TV station. The ads always occur during the evening hours and advertise the
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
The Quick Sell car dealership has been using 1-minute spot ads on a local TV station. The ads always occur during the evening hours and advertise the different models and price
| x | y |
| 6 | 15 |
| 20 | 31 |
| 0 | 10 |
| 14 | 16 |
| 25 | 28 |
| 16 | 20 |
| 28 | 40 |
| 18 | 25 |
| 10 | 12 |
| 8 | 15 |
- Draw a
scatter diagram for the data ( You can copy and past this graph in your work area by using any technology). Do you see a linear relation? - Compute the value of linear
correlation coefficient "r". From the value of "r" can we decide the strength of the relation ( strong, moderate, or weak)? - Find the equation of regression line, identify the slope and intercept. Also explain meaning of slope in the context of the problem.
- How many cars can the manager expect to sell if 12 ads per week are aired on TV?
- The regression equation obtained above is good predictor or otherwise?
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