The figures below show the relationship between salary and personal lunch expenses on week days for a group of business men. Comment on the difference in graphs and in the coefficient of determination between the graph that includes a data point of someone who reported earnings of $21,000 per year and weekly personal lunch expenses of $100 per week (second graph)and the graph that did not include this data point (first graph).
Definitions:
Contractual Systems
The collection of legal agreements used in franchising, distribution, and other business arrangements that define the terms of relationships between parties.
Franchising
Franchising is a method of doing business wherein a franchisor grants the rights to an individual or entity (franchisee) to operate a business model using the franchisor’s brand and system.
Contractual System
A system based on legal agreements between parties that govern their business relationships and transactions.
Self-Service
A business model or system where customers perform actions or obtain services by themselves, often facilitated by technology, without direct assistance from staff.
Q9: Find the mean, median, and geometric mean
Q11: Ed Sloan bought 6,000 shares of stock
Q12: Match the histogram with the corresponding QQ
Q32: Write at least two questions that you
Q40: What percentage of the participants had a
Q43: Choose the most appropriate measure of center
Q43: The normal model N(58, 21)describes the distribution
Q47: Explain what a numerical variable is and
Q51: To improve customer satisfaction, the amusement park
Q54: If one person is chosen randomly from