1. A report gives the covariance between the number of employees at an assembly factory and the...
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2. The correlation between sales and advertising when both are measured in millions of dollars is 0.65. The correlation remains the same if we convert these variables into thousands of dollars.
3. A gasoline station collected data on its monthly sales over the past three years along with the average selling price of gasoline. A scatterplot of sales on price of gasoline showed positive association. This association means that higher prices lure more customers.
4. Half of the numbers in a correlation matrix are redundant, ignoring the diagonal.
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Related Book For
Statistics For Business Decision Making And Analysis
ISBN: 9780321890269
2nd Edition
Authors: Robert Stine, Dean Foster
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