The correlation coefficient equals to -1 indicates Two variables are perfectly p
ID: 3056239 • Letter: T
Question
The correlation coefficient equals to -1 indicates
Two variables are perfectly positively linearly related, i.e. one variable goes up, the other variable also goes up, linearly
Two variables are perfectly negatively linearly related, i.e. one variable goes up, the other variable also goes down, linearly
Randomly or not linearly related
None of the above
Suppose annual salaries for sales associates from a particular store have a mean of $20,000 and a standard deviation of $2,000. Use Chebyshev's theorem to calculate the percentage of sales associates with salaries between $14,000 and $26,000.
At least 89%
About 68%
At least 75%
About 95%
None of the above
Suppose annual salaries for sales associates from a particular store follows a bell-shaped distribution with a mean of $20,000 and a standard deviation of $2,000. Use Empirical rule to calculate the percentage of sales associates with salaries between $18,000 and $22,000.
At least 89%
About 68%
At least 75%
About 95%
None of the above
Two variables are perfectly positively linearly related, i.e. one variable goes up, the other variable also goes up, linearly
Two variables are perfectly negatively linearly related, i.e. one variable goes up, the other variable also goes down, linearly
Randomly or not linearly related
None of the above
Explanation / Answer
1. When correlation coefficient = -1,
Answer: Two variables are perfectly negatively linearly related, i.e. one variable goes up, the other variable also goes down, linearly
2. P(14000 < X < 26000) = P(20000 - 3*2000 < X < 20000 + 3*2000)
According to Chebyshev's theorem, about 99% of the values lie within 3 standard deviations of the mean.
So, P(14000 < X < 26000) = 99%
Answer: None of the above.
3. P(18000 < X < 22000) = P(20000 - 1*2000 < X < 20000 + 1*2000)
According to Chebyshev's theorem, about 68% of the values lie within 1 standard deviation of the mean.
So, P(18000 < X < 22000) = 68%
Answer: About 68%
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