Question

FOMC ass3 (2) - widok chroniony Zapisano w ten komputer Uklad Odwołania Korespondencja Recenzja Widok Pomoc Powiedz mi, co chcesz zrobić temetowej i moze zawierać wirusy. leśli nie ma konieczności jego edytowania, bezpieczniej jest pozostać w widoku chronionym. Wącz e Fundamentals of Quantitative Methods Part III (Exercises from Business Statistics; Sharpe, De Veaux, Velleman) Suppose you were to collect data for each pair of variables. You want to make a scatterplot. Which variable would you use as the explanatory variable and which as the response variable? Why? What would you expect to see in the scatterplot? Discuss the likely direction and form. a) Cell phone bills: number of text messages, cost. b) Automobiles: Fuel efficiency (mpg), sales volume (number of autos). c) For each week: Ice cream cone sales, air conditioner sales. d) Product: Price (S), demand (number sold per day). 1. 2. The human resources department at a large multinational corporation wants to be able to predict average salary for a given number of years of experience. Data on salary (in S1000's) and years of experience were collected for a sample of employees. Which variable is the explanatory (or predicto variable? Which variable is the response variable? Which of the scatterplots show: a) Little or no association? c) A linear association? e) A very strong association? 3. b) A negative association? d) A moderately strong association? cay 4. A study finds that during blizzards, online sales are highly associated with the number of snow plows on the road: the more plows, the more online purchases. The director of an association of online merchants suggests that the organization should encourage municipalities to send out more plows whenever it snows because, he says, that will increase business. Comment. Consider the following data from a small bookstore 5. a) Prepare a scatterplot of Sales against Number of sales Number of sales Sales (in $1000) people working people working b) What can you say about the direction of the association? c) What can you say about the form of the relationship? 10 lip

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