Answer:
a. Scatterplot is attached.
b. Positive Correlation
c. Correlation coefficient=0.9219
Step-by-step explanation:
a.
The following procedure will be used to obtain the scatter plot
- Open an Google Sheets file online or excel sheet on your computer.
- In column B and C, enter the Income and Vacation data as provided above.
- Select the data > click on insert CHART.
- Chose Scatter Chart option
A scatter plot visualizing your data should be displayed as attached.
b.
- On your computer, open a spreadsheet in Google Sheets.
- Double-click on your scatter plot.
- At the right, click on Customize tab and then Series.
- Scroll down and check the Trend line box
-From the trend line, your notice that your variables have a positive correlation.
-As the income increases, so does vacation expenditure.
c. The correlation coefficient can be calculated as follows.
- Click on any empty cell in the sheet and enter the formula
- "=CORREL((y-axis range),(x-axis range))"
- ENTER
-From our Google Sheets calculation our variables have a positive correlation and the correlation coefficient is 0.9219
-The correlation coefficient,r can also be calculated manually:
-let x be income, and y be vacation and divide all the values by 100 to make the smaller and easier to manipulate:
![r=\frac{n(\sum xy)-(\sum x)(\sum y)}{\sqrt{[n\sum x^2-(\sum x)^2][n\sum y^2-(\sum y)^2}}\\\\\\\sum xy=153914\\\sum x=4485\\\sum y=246\\\sum x^2=2878447\\(\sum x)^2=4485^2=20115225\\(\sum y)^2=246^2=60516\\\sum y^2=8392\\n=8\\\\\#substitute \ and \ solve \ for \ r\\\\=\frac{8\times153914-4485\times 246}{\sqrt{[8\times 2878447-4485^2][8\times 8392-246^2]}}\\\\=0.92186\\\\\approx 0.9219](https://tex.z-dn.net/?f=r%3D%5Cfrac%7Bn%28%5Csum%20xy%29-%28%5Csum%20x%29%28%5Csum%20y%29%7D%7B%5Csqrt%7B%5Bn%5Csum%20x%5E2-%28%5Csum%20x%29%5E2%5D%5Bn%5Csum%20y%5E2-%28%5Csum%20y%29%5E2%7D%7D%5C%5C%5C%5C%5C%5C%5Csum%20xy%3D153914%5C%5C%5Csum%20x%3D4485%5C%5C%5Csum%20y%3D246%5C%5C%5Csum%20x%5E2%3D2878447%5C%5C%28%5Csum%20x%29%5E2%3D4485%5E2%3D20115225%5C%5C%28%5Csum%20y%29%5E2%3D246%5E2%3D60516%5C%5C%5Csum%20y%5E2%3D8392%5C%5Cn%3D8%5C%5C%5C%5C%5C%23substitute%20%5C%20and%20%5C%20solve%20%5C%20for%20%5C%20r%5C%5C%5C%5C%3D%5Cfrac%7B8%5Ctimes153914-4485%5Ctimes%20246%7D%7B%5Csqrt%7B%5B8%5Ctimes%202878447-4485%5E2%5D%5B8%5Ctimes%208392-246%5E2%5D%7D%7D%5C%5C%5C%5C%3D0.92186%5C%5C%5C%5C%5Capprox%200.9219)
S(p) = 400 - 4p + 0.00002p^4
D(p) = 2800 - 0.0012p^3
S(p) = D(p)
400 - 4p + 0.00002p^4 = 2800 - 0.0012p^3
0.00002p^4 + 0.0012p^3 - 4p - 2400 = 0
p = $96.24
Answer:
a. A relative-frequency distribution is to a variable as a ___probability_______ distribution is to a random variable. b. A relative-frequency histogram is to a variable as a _____probability_____ histogram is to a random variable.
Step-by-step explanation:
Probability is a type of mathematics which deals with numerical descriptions of how likely an event would occur, or how likely it is that a the occurrence would be true. The probability of an event is usually between 0 and 1,
where 0 represent impossibility and 1 represents the chance of it occurring.
The range of a function is representative of the values on the y-axis. In this case, the graph will contain distance on the y-axis at is the dependent variable, while the independent variable is time.
We know that the minimum value of the distance will be 0, given that there can be no negative distance. Moreover, the maximum value is 26.2 miles, since the marathon will then be over. Therefore, a good range for the situation will be 0-27 miles.