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In your own words, describe the concept of correlation, include the coefficient of correlation (r) and the coefficient of determination (r2) in your description.
Please include an example data set in your explanation. Again, Excel and MegaStat will do all the necessary calculations.
Excel 2003: Tools > Data Analysis > Correlation
Excel 2007: Data > Data Analysis > Correlation
MegaStat: Correlation/Regression > Correlation Matrix
She collected the employee performance ratings recorded before and after workshop attendance and stored the paired ratings for all 35 in Perform.
Suppose that 46 percent of families living in a certain country own a car and 18 percent own an SUV. The Addition Rule might suggest, then, that 64 percent of families own either a car or an SUV. What's wrong with that reasoning.
Determine the probability that Mexican American male in the 20 -74 age range has serum cholesterol value greater than 240 mg/dl.
Compare a three-month moving average forecast with an exponential smoothing fore-cast for a = 0.2. Which provides the better forecasts using MSE as the measure of model accuracy?
High precision titanium spheres are popular components in manufacturing of ball bearings. A factory has ordered a shipment of 5000 titanium spheres from aboard. It is found that the shipment has a mean radius of 1.5 cm with a standard deviation ..
Given that a particular student tests negative for stress, what is the probability that the test results are correct, and that this student is not overstressed?
Find the strategy that maximizes the manufacturer's expected net earnings and Should the manufacturer routinely obtain credit rating reports on those retailers who seek credit approval? Why or why not?
If a single test is run and indicates that oil is present, what is the revised probability that oil is actually present?
During the past six months, 73.2% of US households purchased sugar. Assume that these expenditures are approximately normally distributed with a mean of $8.22 and a standard deviation of $1.10. 80% of the households spent more than what amount?
The average stock price for companies making up the S&P 500 is $40, and the standard deviation is $10. Assume the stock prices are normally distributed. What is the probability a company will have a stock price less than $33.
a) Draw the scatter diagram. Does it appear that x and y are related? If so, how? b) Test to determine whether there is evidence of a linear relationship.
A point estimate for the difference between the mean purchases of the users of the two credit cards is:
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