Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6.6.2) Note: 6.6.2 uses data from 6.5.2. In this data set there is a time variable (year) and three other variables that depend on time.

6.6.2)Note: 6.6.2 uses data from 6.5.2. In this data set there is a time variable (year) and three other variables that depend on time. For Part (a) of 6.6.2 create matrix of scatter plots for these three other than time variables. Part (b) asks you to discuss their relationships. Create correlation matrix for this purpose of the three variables other than the time variable and verify correlation coefficient value between petroleum imports and percent of petroleum products by doing hand calculations.

Questions to answer:

For Part (a) Create below a matrix of scatter plots for these three variable other than the time variable using MINITAB.

Part (b) Create correlation matrix below of the three variables other than the time variable using MINITAB.

c) Verify correlation coefficient value between petroleum imports and percent of petroleum products by doing hand calculations below.

year Petroluem Imports Percent of Petroluem Products Petroluem Imports from Persian Gulf
1973 6256 36.1 13.5
1974 6112 36.7 17.0
1975 6056 37.1 19.2
1976 7313 41.8 25.1
1977 8807 47.7 27.8
1978 8363 44.3 26.5
1979 8456 45.6 24.4
1980 6909 40.5 21.9
1981 5996 37.3 20.3
1982 5113 33.4 13.6
1983 5051 33.1 8.7
1984 5437 34.5 9.3
1985 5067 32.2 6.1
1986 6224 38.2 14.6
1987 6678 40.0 16.1
1988 7402 42.8 20.8
1989 8061 46.5 23.0
1990 8018 47.1 24.5
1991 7627 45.6 24.1
1992 7888 46.3 22.5
1993 8620 50.0 20.6
1994 8996 50.7 19.2
1995 8835 49.8 17.8
1996 9478 51.7 16.9
1997 10162 54.5 17.2
1998 10708 56.6 19.9
1999 10852 55.5 22.7
2000 11459 58.1 21.7
2001 11871 60.4 23.2
2002 11530 58.3 19.6
2003 12264 61.2 20.3
2004 13145 63.4 18.9
2005 13714 65.9 17.0
2006 13707 66.3 16.1
2007 13468 65.1 16.1
2008 12915 66.2 18.4
2009 11691 62.3 14.4
2010 11793 61.5 14.5
2011 11436 60.6 16.3
2012 10627 57.3 20.3
2013 9859 52 20.4
2014 9241 48.4 20.3
2015 9449 48.4 15.9

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

Algebra And Trigonometry (Subscription)

Authors: Michael Sullivan

9th Edition

0321830741, 9780321830746

More Books

Students also viewed these Mathematics questions

Question

=+a) What is the standard deviation of the sample mean?

Answered: 1 week ago

Question

Personal role: This consists of service to family and friends.

Answered: 1 week ago

Question

The role of life: It consists of your own service to yourself.

Answered: 1 week ago