Question: The following data represent 15 randomly selected state finances: revenue and expenditures (in millions of dollars) for the fiscal year 1997 (a) Draw a scatterplot.

The following data represent 15 randomly selected state finances: revenue and expenditures (in millions of dollars) for the fiscal year 1997

(a) Draw a scatterplot.
(b) Find the sample correlation between revenue and expenditure.
(c) Draw a QQ plot.
(d) Interpret (a), (b), and (c).

Revenue: 9439 8845 14,520 24,028 39,038 5215 20,128 7467 26,538 5,537 6,494 2818 49318 4229 7724 Expenditur 5722 7685 13,862 21,975 35,302 444 16,200 7145 25,791 4808 5130 2426 39,296 4002 6818

Step by Step Solution

★★★★★

3.18 Rating (168 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a The following is a scatter plot of the data b r 0991... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

610-M-S-N-S (1937).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

The data shown represent the box office total revenue (in millions of dollars) for a randomly selected sample of the top-grossing films in 2009. Check for normality. 736249 1 566222 566354 209222...

Given in the following table are 15 randomly selected state expenditures (in millions of dollars) for the fiscal year 1997 (a) Test the data for normality. (b) If the data are not normal, try a...

The following data represent the square footage and rent for apartments in the borough of Queens and Nassau County, New York. (a) On the same graph, draw a scatter diagram for both Queens and Nassau...

Need help with screenshots one through 10 (1-10). All information needed to solve these problems can be found individually below, in each respective screenshot. The only thing you need to answer are...

#6 Business Statistics with Computer Applications II Problems from book: Chapter 12 (page 523) 12.62, 12.63, 12.65-12.69 Problems not in book: Casting aluminum. In casting metal parts, molten metal...

Netflix: DVD vs. Streaming? case study Rick Long, Inchul Suh & Toby White Netflix: DVD vs. Streaming Rick Long, Inchul Suh & Toby White College of Business and Public Administration Drake University...

Netflix: DVD-by-Mail or Online Streaming? Synopsis On September 19, 2011, Rachel Adams, Senior Equity Analyst for Brooks Associates, Inc., was asked to reassess the stock of Netflix, a large holding...

Netflix: DVD-by-Mail orOnline Streaming? case study Netflix: DVD vs. Streaming Rick Long, Inchul Suh & Toby White College of Business and Public Administration Drake University Des Moines, IA 50311...

Netflix: DVD-by-Mail or Online Streaming? (Please open the attached file to read the whole case and answer the following questions) 1. What is the right mix of investment and strategic focus for...

Prove that for any securities X and Y: E(X2)= (E(X))2+VAR( ) If rr,-1, then (X + Y) Ox + . If rxy--I, then (X + Y)-Ox-@y

Calculate the price of a 5% coupon, $1000 face value 5 year bond that's callable after one year for $1030 if there's an equal chance that interest rates for each of the next five years will be 4%, 5%...

Tax and Credits: Line 16: Calculate the tax using the tax tables or tax computation worksheet. Line 19: Child tax credit and credit for other dependents (Calculate based on qualifying children)

Compare and contrast the four healthcare models described in this chapter. What are the main differences among them?

If g(x) = 1 x3, find g (0) and use it to fine an equation of the tangent line to the curve y = 1 x3 at the point (0, 1).

(a) If F(x) = x3 5x + 1, find F (1) and use it to find an equation of the tangent line to the curve y = x3 5x + 1 at the point (1, - 3). (b) Illustrate part (a) by graphing the curve and the...

(a) If G(x) = x/(1 + 2x), find G(a) and use it to fine an equation of the tangent line to the curve y = x/(1 + 2x) at the point (- , - ). (b) Illustrate part (a) by graphing the curve and the tangent...

Now, assume that a regular work week is made of 40 hours and that there are approximately 4.3 weeks in a month. 4. What must each adult earn per hour in Toledo to meet their budget assuming they work...

The price of the "Spirit of the Devil" brand beer fluctuates from month to month due to the change in raw material prices and other factors. The company that sells this beer also advertises several...

for which of Assuming that real GDP per person is a good measure of living standards, between 2016 and 2017, living standards the following reasons? Population growth outpaced productivity growth....