Here is the scatterplot and correlation for Case Price of wines from 36 vineyards in the Finger

Question:

Here is the scatterplot and correlation for Case Price of wines from 36 vineyards in the Finger Lakes region of New York State and the Age of those vineyards. Correlation = 0.16.

150 125 100 + 75 50 25 + 10 20 30 Age (years) Case Price ($)

a) Check the assumptions and conditions for correlation.

b) Does it appear that older vineyards get higher prices for their wines? Explain.

c) What does this analysis tell us about vineyards in the rest of the world?

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Business Statistics

ISBN: 9780133899122

3rd Canadian Edition

Authors: Norean D. Sharpe, Richard D. De Veaux, Paul F. Velleman, David Wright

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Question Posted: Jun 24, 2019 10:17 AM

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Here is the scatterplot and correlation for Case Price of wines from 36 vineyards in the Finger

Question:

150 125 100 + 75 50 25 + 10 20 30 Age (years) Case Price ($)

Step by Step Answer:

a The two variables Case Price and Age are quantita...View the full answer

Business Statistics

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