Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose you have collected the following sample data from twenty-six randomly selected Dallas area families regarding their Weekly Expenditures on Video Rentals and Weekly Expenditures

Suppose you have collected the following sample data from twenty-six randomly selected Dallas area families regarding their Weekly Expenditures on Video Rentals and Weekly Expenditures on Dining Out:

Observation Number Weekly Expenditures
Video Rentals Dining Out
1 $12 $28
2 $12 $27
3 $6 $32
4 $13 $32
5 $7 $25
6 $10 $24
7 $8 $27
8 $4 $20
9 $4 $32
10 $13 $35
11 $5 $30
12 $9 $22
13 $12 $31
14 $9 $25
15 $12 $28
16 $4 $34
17 $14 $36
18 $10 $24
19 $5 $29
20 $18 $42
21 $15 $41
22 $6 $26
23 $6 $28
24 $4 $40
25 $11 $21
26 $9 $24

Explain your answers below in detail (use analytical tools such as correlation and regression when necessary)

Q1: What is the relationship between weekly expenditures of video rentals and dining out?

This is what I have so far: The correlation coefficient between dining out and video rentals is 0.32. Since it is a positive number, it indicates a positive relationship between the variables which means when one variable increases, the other variable likely increases as well. The strength of the relationship is weak because the correlation coefficient is closer to 0 than to 1.

I did a scatter plot and it shows it is a non-linear correlation. So, what other analysis should I do find out the relationship between the two?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Engineering Mathematics

Authors: Erwin Kreyszig

3rd Edition

471507288, 978-0471507284

More Books

Students also viewed these Mathematics questions