Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A state's park system statistical report for the 2014/2015 fiscal year gave the accompanying data on x = amount of money collected in user fees

A state's park system statistical report for the 2014/2015 fiscal year gave the accompanying data on x = amount of money collected in user fees (in thousands of dollars) and y = operating cost (in thousands of dollars) for nine state parks in a certain district.

image text in transcribed
User Fees Operating Costs (thousands of dollars) (thousands of dollars) 17 101 74 359 811 3,582 380 1,377 33 243 427 760 500 1,054 734 ,205 760 1,636 (a) Construct a scatterplot of the data. y 4000 4000 4000 4000 3000 3000 3000 3000 2000 2000 2000 2000 1000 1000 1000 1000 . . O X 200 400 600 800 200 400 600 800 200 400 600 800 200 400 600 800 Describe the scatterplot. There is a positive linear relationship between user fees collected and operating costs. (b) Find the equation of the least squares regression line (the equation of the best fit line). Hint: use Excel to perform calculations with larger datasets. (Round your answers to three decimal places.) y =) x (c) Is the slope of the least squares regression line positive or negative? Is this consistent with your description in part (a)? O The slope is negative, which is not consistent with the description in part (a). The slope is negative, which is consistent with the description in part (a). The slope is positive, which is not consistent with the description in part (a). The slope is positive, which is consistent with the description in part (a). (d) Based on the scatterplot, do you think that the correlation coefficient for this data set would be less than 0.5 or greater than 0.5? Explain. The correlation coefficient would be less than 0.5, because the values are not all colinear. O The correlation coefficient would be less than 0.5, because the relationship appears weak The correlation coefficient would be greater than 0.5, because the relationship appears moderate or strong. The correlation coefficient would be greater than 0.5, because the relationship appears weak. The correlation coefficient would be less than 0.5, because the relationship appears moderate or strong

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

Trigonometry

Authors: Ron Larson, Rosemarie Menager Beeley, Larson/Hostetler

8th Edition

1111789177, 9781111789176

More Books

Students also viewed these Mathematics questions

Question

8. What are the costs of collecting the information?

Answered: 1 week ago