Explanation Given: The dataset: Drug $Brand $Generic Zantac 96.75 42.19 Tagamet 93.47 31.36 Xanax 58.70 17.23 Koflex 80.32 16.38 Inderal 44.07 8.87 Tenormin 46.74 12.00 Lasix Oral 15.13 6...

7th Edition

ISBN: 9781111792374

Author: WEIERS

Publisher: Cengage Learning

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Concept explainers

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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Compare Compare Correlation is the measure of the degree of the relationship between the variables. In regression, the relationship between the variables to predict one by another is assessed. In correlation there is no cause and effect between the variables, whereas in regression there is a cause and effect between the variables. By using correlation, we cannot predict anything, but regression is a predictive tool. Coefficients are symmetrical in correlation but in regression they are asymmetrical. Correlation is independent of change in origin and scale, but regression is not independent of change in scale.

Chapter 3.6, Problem 3.47E

To determine

To calculate the linear equation and then explain the interpret the coefficient of correlation and coefficient of determination.

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Chapter 3 Solutions

Introduction to Business Statistics

Ch. 3.2 - Determine the mean and the median wage rate for...Ch. 3.2 - Prob. 3.2E Ch. 3.2 - Erika operates a website devoted to providing...Ch. 3.2 - A social scientist for a children’s advocacy...Ch. 3.2 - Prob. 3.5E Ch. 3.2 - The following is a list of closing prices for 15...Ch. 3.2 - Prob. 3.7E Ch. 3.2 - According to a utility company, utility plant...Ch. 3.2 - Prob. 3.9E Ch. 3.2 - An observer stands at an overpass and, for each...

Ch. 3.2 - Prob. 3.11E Ch. 3.2 - Prob. 3.12E Ch. 3.2 - Prob. 3.13E Ch. 3.2 - Prob. 3.14E Ch. 3.2 - Prob. 3.15E Ch. 3.3 - Prob. 3.16E Ch. 3.3 - Prob. 3.17E Ch. 3.3 - Prob. 3.18E Ch. 3.3 - Prob. 3.19E Ch. 3.3 - For a sample of 11 employers, the most recent...Ch. 3.3 - According to the U.S. Invironrnental Protection...Ch. 3.3 - For a sample of eight apartment buildings in...Ch. 3.3 - Prob. 3.23E Ch. 3.3 - Prob. 3.24E Ch. 3.3 - Prob. 3.25E Ch. 3.3 - Prob. 3.26E Ch. 3.3 - Data file XR02028 shows the depths (in meters)...Ch. 3.4 - Prob. 3.28E Ch. 3.4 - According to Chebyshev’s theorem, what percentage...Ch. 3.4 - Prob. 3.30E Ch. 3.4 - Prob. 3.31E Ch. 3.4 - The manufacturer of an extended-life lighthulh...Ch. 3.4 - For college-bound high school seniors from a...Ch. 3.4 - For data set A, the mean is $1235, with a standard...Ch. 3.4 - Prob. 3.35E Ch. 3.4 - Prob. 3.36E Ch. 3.4 - Prob. 3.37E Ch. 3.4 - Prob. 3.38E Ch. 3.5 - Prob. 3.39E Ch. 3.5 - Prob. 3.40E Ch. 3.5 - Prob. 3.41E Ch. 3.6 - Prob. 3.42E Ch. 3.6 - For a set of data, r2 is 0.64 and the variables x...Ch. 3.6 - Prob. 3.44E Ch. 3.6 - Prob. 3.45E Ch. 3.6 - Prob. 3.46E Ch. 3.6 - Prob. 3.47E Ch. 3 - The first seven ustomers of the day at a small...Ch. 3 - A dental supplies distributor ships a customer 50...Ch. 3 - The 2007 top-grossing feature film was Spiderman...Ch. 3 - Prob. 3.51CE Ch. 3 - Prob. 3.52CE Ch. 3 - Prob. 3.53CE Ch. 3 - Prob. 3.54CE Ch. 3 - Prob. 3.55CE Ch. 3 - Prob. 3.56CE Ch. 3 - A quality control supervisor has taken a sample of...Ch. 3 - Prob. 3.58CE Ch. 3 - Prob. 3.59CE Ch. 3 - A law enforcement agency, administering...Ch. 3 - Prob. 3.61CE Ch. 3 - Prob. 3.62CE Ch. 3 - Prob. 3.63CE Ch. 3 - Prob. 3.64CE Ch. 3 - According to the Energy Information...Ch. 3 - Bride’s magazine reports the cost of the average...Ch. 3 - Prob. 3.67CE Ch. 3 - Prob. 3.68CE Ch. 3 - Prob. 3.69CE

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Find the equation of the regression line for the following data set. x 1 2 3 y 0 3 4
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The ordered pairs below give the median sales prices y (in thousands of dollars) of new homes sold in a neighborhood from 2009 through 2016. (2009, 179.4) (2011, 191.0) (2013, 202.6) (2015, 214.9) (2010, 185.4) (2012, 196.7) (2014, 208.7) (2016, 221.4) A linear model that approximates the data is y=5.96t+125.5,9t16, where t represents the year, with t=9 corresponding to 2009. Plot the actual data and the model on the same graph. How closely does the model represent the data?

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Correlation Vs Regression: Difference Between them with definition & Comparison Chart; Author: Key Differences;https://www.youtube.com/watch?v=Ou2QGSJVd0U;License: Standard YouTube License, CC-BY

Correlation and Regression: Concepts with Illustrative examples; Author: LEARN & APPLY : Lean and Six Sigma;https://www.youtube.com/watch?v=xTpHD5WLuoA;License: Standard YouTube License, CC-BY

To calculate the linear equation and then explain the interpret the coefficient of correlation and coefficient of determination.

Solution Summary: The author explains how to calculate the linear equation and interpret the coefficients of correlation and determination.

Concept explainers

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To calculate the linear equation and then explain the interpret the coefficient of correlation and coefficient of determination.

Chapter 3 Solutions