Aubree invested $8,300 in an account paying an interest rate of 2.2% compounded quarterly. Assuming no deposits or withdrawals a
2 answers:
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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
- Click OK.
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:
