Week4Hwk5020vb Name: ID: Speed (Miles/Hour) MPG (Miles/Gallon) 30 28 50 25 1 Two quantitative variables. 40 25
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| Week4Hwk5020vb | |||||||||||
| Name: | ID: | Speed (Miles/Hour) | MPG (Miles/Gallon) | ||||||||
| 30 | 28 | ||||||||||
| 50 | 25 | ||||||||||
| 1 | Two quantitative variables. | 40 | 25 | ||||||||
| 55 | 23 | ||||||||||
| 30 | 30 | ||||||||||
| Variables | 25 | 32 | |||||||||
| a | Which variable is the dependent variable? | Speed | 60 | 21 | |||||||
| b | Which variable is the independent variable? | MPG | 25 | 35 | |||||||
| 50 | 26 | ||||||||||
| 55 | 25 | ||||||||||
| c | Construct a scatter diagram with dependent variable on the vertical axis (Y) | ||||||||||
| and the independent variable on the horizontal axis (x) | |||||||||||
| Please label the chart and the axes. | |||||||||||
| d | What does the plot show about the relationship between the two variables? | ||||||||||
| Positive or negative? Weak or strong? | |||||||||||
| e | Using Excel function, compute the correlation of coeffient of the two variables. | ||||||||||
| f | What can you say about the linear relationship of the two variables based | ||||||||||
| on the correlation coefficient? | |||||||||||
| 2 | Bayes' Thereom | ||||||||||
| a | What is the probability that a randomly selected person in the US is 65 or older? | ||||||||||
| p(A)= | |||||||||||
| b | What is the probability that a randomly selected person in the US is under 65 years old? | ||||||||||
| p(NA)= | |||||||||||
| c | For a random selected person 65 or older, what is the probability that this person is uninsured? | ||||||||||
| p(U |A )= | |||||||||||
| d | For a random selected person under 65, what is the probability that this person is uninsured? | ||||||||||
| p( U|NA)= | |||||||||||
| This group includes under 18 and 18 to 64 | |||||||||||
| e | Given that the person in the US is uninsured, what is the probability that the person is 65 or older? | ||||||||||
| p(A| U)= | p(A)*(p(u|A) | ||||||||||
| (hint: Use Bayes' Theorem) | --------------------------- | ||||||||||
| p(A)*(p(u|A)+p(NA)*p(U|NA) | |||||||||||
| 3 | Contigency Table Problem | ||||||||||
| S&P 500's Annual Performance | |||||||||||
| First week | Higher | Lower | Total | ||||||||
| Higher | 37 | 5 | 42 | ||||||||
| Lower | 11 | 11 | 22 | ||||||||
| Total | 48 | 16 | 64 | ||||||||
| a | If a year is selected at random, | ||||||||||
| what is the probability that the S&P 500 finished lower for the year? | |||||||||||
| b | Given that the S&P fiished lower after the first five days of trading, | ||||||||||
| what is the probability that it finished lower for the year? | |||||||||||
| c | Are the two events "first week performance" and "annual performance" | ||||||||||
| independent? | |||||||||||
| Rename the completed worksheet and include your initials in the name. E.g. JDWeekX | |||||||||||
| End of this assignment. |
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