Example of product moment correlation, Mathematics

Assignment Help:

Example of Product moment correlation

The given data was acquired during a social survey conducted in a described urban area regarding the yearly income of described families and the corresponding expenditures.

Family

(x)Annual income £ 000

(y)Annual expenditure £ 000

xy

x2

Y2

A

420

360

151200

176400

129600

B

380

390

148200

144400

152100

C

520

510

265200

270400

260100

D

610

500

305000

372100

250000

E

400

360

144000

160000

129600

F

320

290

92800

102400

84100

G

280

250

70000

78400

62500

H

410

380

155800

168100

144400

J

380

240

91200

144400

57600

K

300

270

81000

90000

72900

Total

4020

3550

1504400

1706600

1342900

Required

Compute the product moment correlation coefficient briefly comment on the value acquired

The produce moment correlation:

1701_Example of Product moment correlation 1.png

Workings:

x¯  = 4020/10 = 402                 

y¯ = 3550/10 = 355

1442_Example of Product moment correlation 2.png

= 0.89

Comment: The value acquired 0.89 suggests that the correlation between annual expenditure and annual income is high and positive. This shows that the more one earns the more one spends.


Related Discussions:- Example of product moment correlation

Maths Assignment, Hi, I really need an idea and a layout on where i should ...

Hi, I really need an idea and a layout on where i should take my Maths assignment. This is for Year 12, and i want to focus on Maths in Music. It has to be at least 6 to 12 pages l

Estimate the grade resistance, The grade resistance is F=W sin θ, where θ i...

The grade resistance is F=W sin θ, where θ is the grade and W is the weight of the automobile.  What is the grade resistance of a 2500 pound car traveling on a 2.6 degree uphill gr

Show basic trigonometric functions, Q. Show basic Trigonometric Functions? ...

Q. Show basic Trigonometric Functions? Ans. There are six trigonometric functions and they can be defined using a right angle triangle. We first label each side according

Integrated marketing, #question.Explain its nature and how it influences th...

#question.Explain its nature and how it influences the integrated marketing communications mix and distinguish between tactical and strategic use of integrated marketing communicat

The length of the field is 2 more than twice the width field, Samantha owns...

Samantha owns a rectangular field that has an area of 3,280 square feet. The length of the field is 2 more than twice the width. What is the width of the field? Let w = the wid

Evaluate the volume of cylinder, If the diameter of a right cylinder is dou...

If the diameter of a right cylinder is doubled and the height is tripled, its volume is a. multiplied by 12. b. multiplied by 2. c. multiplied by 6 d. multiplied by 3.

Calculate average speed of a train, Calculate average speed of a train: ...

Calculate average speed of a train: What is the average speed of a train which completes a 450-mile trip in 5 hours? Solution: Using Equation 15: V av = s/t V a

Integral calculus, I need help to understand: fxx for f(x,y)=x^2+y^2-2xy

I need help to understand: fxx for f(x,y)=x^2+y^2-2xy

SIMPLE INTEREST, A payday loan company charges a $95 fee for a $500 payday ...

A payday loan company charges a $95 fee for a $500 payday loan that will be repaid in 11 days. Treating the fee as interest paid, what is the equivalent annual interest rate?

Using pythagorean theorem to determine z, Two cars begin 500 miles apart.  ...

Two cars begin 500 miles apart.  Car A is into the west of Car B and begin driving to the east (that means towards Car B) at 35 mph & at the similar time Car B begin driving south

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd