The price of a gallon of unleaded gas at each of 7 gas stations in a particular

Question

The price of a gallon of unleaded gas at each of 7 gas stations in a particular city yesterday was determined. The prices are: $3.90 $3.88 $3.80 $3.82 $3.84 $3.87 $3.88 The median price for this sample is: $3.82 $3.86 $3.88 For the US. over the years 1980-2004, the correlation between X = personal medical expenditures as a % of total personal consumption expenditures and Y "personal savings as a % of personal disposable income was = 91. Such a correlation coefficient reflects: a weak direct linear relationship between X and Y a weak inverse linear relationship between X and Y a strong direct linear relationship between X and Y a strong inverse linear relationship between X and Y

Explanation / Answer

Question 3:

Firt Arrange the data in ascending order

Identify the middle observation i.e. 4 th obeservation i.e. median = 3.87  

Correct Answe: Option (C)

Question 4: Correct Answe: Option (D) Strong inverse linear relationship between X and Y

S.No. Price 1 3.8 2 3.82 3 3.84 4 3.87 5 3.88 6 3.88 7 3.9

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