O curse: 17F-statistics for D Question ofthe Week 2 .® YouTube G chegg TRm voi G

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O curse: 17F-statistics for D Question ofthe Week 2 .® YouTube G chegg TRm voi Google x. occc.mrooms3.net/pluginfile.php/2068843/mod-resource/content/7 k%202-Econ2023-Fall%20201 7.pdf Question of the Week 2_Econ2023_Fall 2017.pdf 1/2 Question 1: Suppose you are given the following ages of 5 people Person Age (yrs) 21 61 For the above sample, determine the following measures: a. The mean. Round to the nearest tenth. b. The median. c. The standard deviation. Round to the nearest tenth. Interpret the value. d. The range e. Find and interpret the Z-score for a value of 27 ID 2-54 PM 9/19/2017

Explanation / Answer

Q2.

PART A.

calculation procedure for correlation

to caluclate value of r( x,y) = covariance ( x,y ) / sd (x) * sd (y)

covariance ( x,y ) = [ x*y - N *(x/N) * (y/N) ]/n-1 = 85.1

and now to calculate r( x,y) = cov(x,y) / SD(x) * SD(y)

value of correlation is = r(x,y) = 85.1 / (14.8)*(23.4) = 0.24572

coeffcient of determination = r^2 = 0.0603

properties of correlation

1. If r = 1 Corrlation is called Perfect Positive Corrlelation

2. If r = -1 Correlation is called Perfect Negative Correlation

3. If r = 0 Correlation is called Zero Correlation

PART B.

& with above we conclude that correlation ( r ) is = 0.24572> 0 ,weak positive correlation

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