2.23 Refer to the tax revenue data of Table 1.10 and the plot of Exercise 2.17. a...

Question:

2.23 Refer to the tax revenue data of Table 1.10 and the plot of Exercise 2.17.

a Compute a correlation matrix for revenue, taxes, and expenditure.

b Interpret correlation coefficients in terms of the problem.

c Which variables have the strongest association?

Justify your answer.

d Are there any outliers affecting the correlations?

If yes, what is their effect?

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Related Book For  book-img-for-question

Probability And Statistics For Engineers

ISBN: 9781133006909

5th Edition

Authors: Richard L Scheaffer, Madhuri Mulekar, James T McClave, Cecie Starr

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