A customer shopping for a used car believes there should be a negative association between the kilometrage
Question:
A customer shopping for a used car believes there should be a negative association between the kilometrage a used car has on it and the price of the car. Yet when she runs a correlation, it’s near 0, and she’s surprised. Explain how a scatterplot could help her understand the relationship.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
The relationship could be curved and t...View the full answer
Answered By
Sumit kumar
Education details:
QUATERNARY Pursuing M.Tech.(2017-2019) in Electronics and Communication Engg. (VLSI DESIGN) from
GNIOT Greater Noida
TERTIARY B.Tech. (2012-2016) in Electronics and Communication Engg. from GLBITM Greater Noida
SECONDARY Senior Secondary School Examination (Class XII) in 2012 from R.S.S.Inter College, Noida
ELEMENTARY Secondary School Examination (Class X) in 2010 from New R.J.C. Public School ,Noida
CERTIFICATION
Summer Training in ‘WIRELESS EMBEDDED SYSTEM’ from ‘XIONEE’ for the six weeks.
EMBEDDED SYSTEM Certificate issued by CETPA INFOTECH for one day workshop.
Certificate of Faculty development program on OPTICAL COMMUNICATION and NETWORKS for one week.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Business Statistics
ISBN: 9780133899122
3rd Canadian Edition
Authors: Norean D. Sharpe, Richard D. De Veaux, Paul F. Velleman, David Wright
Question Posted:
Students also viewed these Mathematics questions
-
Sruti Singh is shopping for a used Volkswagen Golf and feels that there is a relationship between the mileage and market value of the car. The following table provides data on previous car sales from...
-
The table below shows the number of cars (in millions) sold in the United States for various years and the percent of those cars manufactured by GM. Use a statistical software package to answer the...
-
For a sample of 32 large U.S. cities, the correlation between the mean number of square feet per office worker and the mean monthly rental rate in the central business district is 2.363. At the .05...
-
Discuss the two-pipe system, how it works, and its advantages and disadvantages.
-
Draw the structure of each of the following compounds: a. m-chlorotoluene b. p-bromophenol c. o-nitroaniline d. m-chlorobenzonitrile e. 2-bromo-4-iodophenol f. m-dichlorobenzene g....
-
For Problems use the definition of the derivative to obtain the following results. If f(x) = x 4 , then f'(x) = 4x 3 .
-
The plaintiffs, Lee and Yoon, were the parents of H.L., a South Korean citizen who attended high school in Idaho as part of an exchange program. With permission from both plaintiffs and his host...
-
(Entries for Bond Transactions) On January 1, 2010, Osborn Company sold 12% bonds having a maturity value of $800,000 for $860,651.79, which provides the bondholders with a 10% yield. The bonds are...
-
A beam of light travels from a vacuum into water at an angle of 45. The light has a frequency of 6.00 x 1014 Hz and travels at a speed of 2.26 x 108 m/s in water. The speed of light in a vacuum is...
-
Product X is a consumer product with a retail price of $12.95. Retailers margins on the product are 40% and wholesalers margins are 8% (based on the selling price). Total retail size of the market in...
-
An investment analyst looking at the association between sales and assets of companies was surprised when she calculated the correlation. She had expected to find a fairly strong association, yet the...
-
There is a strong association between the logarithm of oil consumption and life expectancy across many countries of the world. a) Does this mean that consuming oil is good for health? b) What might...
-
Suppose we are constructing a confidence interval using repeated tests of significance to develop an interval of plausible values. Using two-sided tests each time with the following null hypotheses,...
-
The use of visualizations to communicate the results to decision makers is called a. explanatory visualizations. b. prescriptive visualizations. c. exploratory visualizations. d. diagnostic...
-
What is the 5-year change in GDP per capita (20072011) for (a) the United States, (b) Australia, (c) Singapore, (d) Denmark, and (e) Italy?
-
What are some factors that Alan should consider when determining whether to offer benefits to part-time workers?
-
Explain why wages are increasing in China, and discuss how this trend will influence a companys choice to conduct business there.
-
Do you think the firm should offer benefits to part-time workers? If yes, should it offer paid time off, the 401(k) plan, and health insurance? Or only one or two of the benefits? Explain your...
-
Using the data presented in BE12-8, determine the accounts and balances that would appear on the income statement at the end of the current year, and identify where those accounts are presented on...
-
The following T-accounts show postings of selected transactions. Indicate the journal used in recording each of these postings a through e. Cash Accounts Receivable Inventory (d) 500 (e) 300 (b)...
-
A directory of personal computer retail outlets in the United States contains 12,080 alphabetized entries. Explain how systematic sampling could be used to select a sample of 300 outlets.
-
In an effort to cut costs and improve profits, many U.S. companies have been turning to outsourcing. In fact, according to purchasing magazine, 54% of companies surveyed outsourced some part of their...
-
The average cost of a one-bedroom apartment in a town is $550 per month. What is the probability of randomly selecting a sample of 50 one-bedroom apartments in this town and getting a sample mean of...
-
Do you think agencies have been given too many powers, for example, the FCC? Should there be more judicial review of these entities? https://youtu.be/ow5hZmU7Yfw (Business law course)
-
can you write summary of chapter 4 - the emergence of modern price theory book- the history of economic ideas by BRANDON DUPONT write summary in about 600-1200 words
-
What insights can be gained from comparative genomics studies across species, shedding light on evolutionary relationships, genome evolution, and the functional significance of conserved sequences?
Study smarter with the SolutionInn App