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Covariance and correlation
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The Graduate Management Admission Test GMAT has four sections: analytical writing, integrated reasoning, quantitative and verbal sections. Suppose that a researcher collected GMAT score data and calcu
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Covariance and correlation
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Explain when the Pearson product-moment correlation coefficient should be used.
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Covariance and correlation
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A regional bank issues different types of credit cards. As part of its annual review of the profitability of each
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Covariance and correlation
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You generate a scatter plot using Excel. You then have Excel plot the trend line and report the equation and the r^2 value. The regression equation is reported as: y = -75.36x + 54.35 and the r^2 = 0.2025. What is the correlation coefficient for this data
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Covariance and correlation
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A fitness center bought a new exercise machine called the Mountain Climber. They decided to keep track of how many people used the machine over a 3-hour period. Suppose X is the number of people who used the machine. Calculate the mean, variance, and stan
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Covariance and correlation
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What is the difference between correlation and causation. What are two things that are highly correlated (linear relationship) but do not have a causal relationship?
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Covariance and correlation
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Name one characteristic of a dataset that could cause the Pearson r correlation coefficient to underestimate the relationship between two variables.
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Covariance and correlation
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A grass seed company conducts a study to determine the relationship between the density of seeds planted (in pounds per 500 sq ft) and the quality of the resulting lawn. Eight similar plots of land
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Covariance and correlation
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A marketing professor at UTRGV is interested in the relationship between hours spent studying and total points earned in a course. The following is the data collected from 8 students. Please collect data for another 2 students and answer the questions bas
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Covariance and correlation
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A testing lab wishes to test two experimental brands of outdoor paint to see how long each will last before fading. The testing lab obtains samples consisting of 6 gallons of each brand of paint to test. The results (in months) are shown. Find the mean,
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