For the Following Data (A) Draw a Scatter Plot $$\begin{array} { c | c c c c c c c } x & 4 & 1 & 3 & 2 & 5 & 7 & 6 \\\hline y & 14 & 6 & 9 & 9 & 17 & 20 & 16\end{array}$$

question 95

Essay

For the following data (a) Draw a scatter plot. (b) Find the value for r. (c) Test the significance of r at the 5% level and at the 1% level. (d) If r is significant, find the regression line and draw the line on the scatter plot. (e) Describe the nature of the relationship if one exists. (f) Predict y when x = 20. $$\begin{array} { c | c c c c c c c } x & 4 & 1 & 3 & 2 & 5 & 7 & 6 \\\hline y & 14 & 6 & 9 & 9 & 17 & 20 & 16\end{array}$$

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Definitions:

Correlation

A quantitative indicator reflecting the level at which two variables fluctuate concurrently, indicating both the magnitude and direction of their connection.

Wealth of The Nation

A measure of the total value of all assets owned by the inhabitants of a country, including natural resources, capital goods, and human capital.

Re-expression

The process of applying a mathematical transformation to a dataset with the goal of achieving a more linear or normal distribution.

Scatterplot

A graphical representation using dots to show the relationship between two quantitative variables, helping to visualize any correlations.