A1-C1 Assignment – Correlation 1. You are given the following statistics: means, standard deviations, and correlations...

A1-C1

Assignment – Correlation

1. You are given the following statistics: means, standard deviations, and correlations for 4 variables. The four variables are miles per gallon, weight of car, front profile (1-Low, 0-Not Low) and the manufacturer’s suggested retail price. Four hundred cars were sampled. Answer the questions that follow.

	MPG	Weight	Low Profile Front	MSRP
Means	25	2500	.60	24,000
St Dev	5	250	.40	3,000
Correlations	MPG	Weight	Low Profile Front	MSRP
MPG	1.00
Weight	-.60	1.00
Low Profile Front	.25	-.30	1.00
MSRP	.05	-.20	.30	1.00

__________Which costs more, (low or high) front profile vehicles
_________ Best predictor of MPG is
__________Heavier cars have a (low or high) profile front
__________High MPG vehicles have ‘significantly’ higher prices than low MPG vehicles(T/F)
_________ Weakest predictor of MPG is
__________Slope of the line for MPG against Low Profile Front would be (Pos, Neg or zero)
____________________________________________________________ Suppose the slope of the line for MPG against Low Profile front is 5. Interpret this slope relative to the two variables.

h.__________Higher MPG vehicles have (higher or lower) profiles.

i.__________ How many cars in the sample were low profile.

Expert Solution

Colby Messinger answered 8 months ago

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