Travel Shaw is an agency based in Bulgaria that employs a group of travel reporters who publish
Question:
Travel Shaw is an agency based in Bulgaria that employs a group of travel reporters who publish stories based on exciting destinations from around the world. Travel Shaw also offers three destination tours: Asia, Europe, and the United States. One of the agents at Travel Shaw wants to determine the relationship between the price of a tour and the number of sales arrangements. Over a 15-day period, the agent records the number of sales made for each of the three tours. The following data show the tour’s price ($000), X, and the number tours sold, Y, during the period:
a. Describe the data numerically with their covariance and correlation.
b. Discuss the relationship between the price and number of travel tours sold.
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9781292315034
9th Global Edition
Authors: Paul Newbold, William Carlson, Betty Thorne