The dataset ToyotaCorolla.jmp contains data on used cars on sale during the late summer of 2004...

The dataset ToyotaCorolla.jmp contains data on used cars on sale during the late summer of 2004 in the Netherlands. It has 1436 records containing details on 38 attributes, including Price, Age, Kilometers, HP, and other specifications. (a.) Explore the data using the data visualization (e.g., Graph > Scatterplot Matrix and Graph > Graph Builder) capabilities of JMP. Which of the pairs among the variables seem to be correlated? (three or four correlations please).

Multivariate Correlations

	Price	Age_08_04	KM	HP	CC	Quarterly_Tax	Weight	Guarantee_Period
Price	1.0000	-0.8766	-0.5700	0.3150	0.1264	0.2192	0.5812	0.1466
Age_08_04	-0.8766	1.0000	0.5057	-0.1566	-0.0981	-0.1984	-0.4703	-0.1526
KM	-0.5700	0.5057	1.0000	-0.3335	0.1027	0.2782	-0.0286	-0.1389
HP	0.3150	-0.1566	-0.3335	1.0000	0.0359	-0.2984	0.0896	0.0762
CC	0.1264	-0.0981	0.1027	0.0359	1.0000	0.3070	0.3356	-0.0177
Quarterly_Tax	0.2192	-0.1984	0.2782	-0.2984	0.3070	1.0000	0.6261	-0.1634
Weight	0.5812	-0.4703	-0.0286	0.0896	0.3356	0.6261	1.0000	-0.0129
Guarantee_Period	0.1466	-0.1526	-0.1389	0.0762	-0.0177	-0.1634	-0.0129	1.0000

Solutions

Expert Solution

The horizontal axis contains the variables in same order as present diagonally/

Now stating the correlation between variables.

WPC: WEAK POSITIVE CORRELATION. (If slope positive but flat)

WNC: WEAK NEGATIVE CORRELATION (If slope neagitve but flat)

SPC: STRONG POSITIVE CORRELATION (If slope positive but Steep)

SNC: STRONG NEGATIVE CORREATION (If slope negative but steep)

Defining Correlation	Price	Age_08_04	KM	HP	CC	Quarterly_Tax	Weight	Guarantee_Period
Price	PerfectPositiveCorrelation
Age_08_04	SNC	PerfectPositiveCorrelation
KM	SNC	SPC	PerfectPositiveCorrelation
HP	WPC	WNC	WNC	PerfectPositiveCorrelation
CC	WPC	WNC	WPC	WPC	PerfectPositiveCorrelation
Quarterly_Tax	WPC	WNC	WPC	WNC	WPC	PerfectPositiveCorrelation
Weight	SPC	WNC	WNC	WPC	WPC	SPC	PerfectPositiveCorrelation
Guarantee_Period	WPC	WNC	WNC	WPC	WNC	WNC	WNC	PerfectPositiveCorrelation

Rahul Sunny answered 1 year ago

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