A) Find Correlation Coefficient to the Set of Data $\{ ( 1,3 ) , ( - 2,9 ) , ( 2,1 ) \}$

question 152

Short Answer

a) Find correlation coefficient to the set of data. Round the answer to 4 decimal places if necessary.
$\{ ( 1,3 ) , ( - 2,9 ) , ( 2,1 ) \}$
r = __________

b) Find correlation coefficient to the set of data. Round the answer to 4 decimal places if necessary.
$\{ ( 0,1 ) , ( 1,0 ) , ( 2,1 ) \}$
r = __________

c) Find correlation coefficient to the set of data. Round the answer to 4 decimal places if necessary.
$\{ ( 0,0 ) , ( 5 , - 5 ) , ( 2 , - 1.7 ) \}$
r = __________

Use correlation coefficients to determine which of the given sets of data is best fit by its associated regression line.

__________

Use correlation coefficients to determine which of the given sets of data is worst fit by its associated regression line .

Is it a perfect fit for any of the data sets

Recognize signs of process control issues through control chart analysis.

Understand the application and interpretation of control charts in manufacturing processes.

Know the difference between control charts for variables and charts for attributes.

Interpret sample proportions in the context of p charts.

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Definitions:

Inverse Demand Function

A mathematical representation showing how the price of an item needs to adjust to achieve a certain level of demand; it's the reverse of the demand function.

Inverse Supply

The inverse supply curve represents the relationship between the price of a good and the quantity supplied, plotted with price on the vertical axis and quantity on the horizontal.

Inverse Demand Function

A mathematical function that expresses the price of a good as a function of the quantity demanded.

Inverse Supply

A concept that illustrates how the quantity of goods supplied by producers decreases as the price decreases, typically represented by an upward sloping curve in economics.