Let x be the average number of employees in a group health insurance plan, and let y be the average administrative cost as a percentage of claims.
x 3 7 15 33 72 y 40 35 30 25 20
(a) Make a scatter diagram of the data and visualize the line you think best fits the data. Get Flash Player Flash Player version 10 or higher is required for this question. You can get Flash Player free from Adobe's website.
(b) Would you say the correlation is low, moderate, or strong? positive or negative? moderate and negative low and negative moderate and positive strong and negative strong and positive low and positive
(c) Use a calculator to verify that Σx = 130, Σx2 = 6556, Σy = 150, Σy2 = 4750, and Σxy = 3080. Compute r. (Round your answer to three decimal places.) r =
As x increases, does the value of r imply that y should tend to increase or decrease? Explain. Given our value of r, y should tend to decrease as x increases. Given our value of r, we cannot draw any conclusions for the behavior of y as x increases. Given our value of r, y should tend to remain constant as x increases. Given our value of r, y should tend to increase as x increases.
Ans:
a)
b)strong,negative
c)
r=(5*3080-130*150)/SQRT((5*6556-130^2)*(5*4750-150^2))=-0.920
Given our value of r, y should tend to decrease as x increases.
Let x be the average number of employees in a group health insurance plan, and let...
Let x be the average number of employees in a group health insurance plan, and let y be the average administrative cost as a percentage of claims. x 3 7 15 36 72 y 40 35 30 26 21 (a) Make a scatter diagram of the data and visualize the line you think best fits the data. You can get Flash Player free from Adobe's website. (b) Would you say the correlation is low, moderate, or strong? positive or negative?...
Let x be the average number of employees in a group health insurance plan, and let y be the average administrative cost as a percentage of claims. x 3 7 15 33 74 y 40 35 30 26 16 (b) Would you say the correlation is low, moderate, or strong? positive or negative? moderate and positive strong and negative moderate and negative low and negative strong and positive low and positive (c) Use a calculator to verify that Σx =...
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