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A 'good' correlation is data-context driven. For example, I did a project correlating sales volume per state and customer demographics (pretty 'hard' data) and got a .92 correlation. In customer satisfaction work getting a correlation of .5 relating overall satisfaction (or repurchase intent) with a specific attribute like 'timeliness of delivery' (soft data) is considered a high value. I did a study correlating net profit per location with expenditures on an in-house promotion, and got a correlation of about .15, and that was received very well. If you are following up your correlation analysis with, say, factor analysis of cluster analysis, then a .6 or better correlation makes these subsequent analyses more valid.
The hypothesis is to be tested at the 5% level of significance. The critical value from the table equals:
The forecast for the third quarter is 3,000 units; the seasonal index for the quarter is 1.05. What are the seasonally adjusted sales for the quarter?
Exam is given to 20 randomly chosen students and their average length of t time needed to finish exam was 54 minutes with standard deviation of 5.99 minutes. Test instructor's claim at the 0.05 level of significance.
The data given below represent the annual gross revenue (N'millions) obtained by a telephone company over the periods 1987 - 1996:
Determine the point estimate and 95% confidence interval for the mean family dental expenses of all employees of the company.
When is a regression equation used? What terms describe the fit of a regression equation to the data? What is the importance of the coefficient of determination (r2)?
A sample of 160 workers in the downtown area classified each worker by race. A bar graph of the results is given below, but the bar for black workers in the graph below has been omitted.
Construct a relative frequency distribution for the weights of regular Coke by starting the first class at 0.7900 lb. and use a class width of 0.0050 lb.
Study is conducted as to whether there is relationship between joggers and consumption of nutritional supplements.
Draw a scatterplot indicating a strong negative relationship between the variables pf income and mental illness. Be sure to label the axes correctly.
How does the bell-shaped curve for the sampling distribution of sample means for samples of size n = 100 compare to the bell-shaped curve for sampling distribution of sample means for samples of size n = 60.
To obtain the probability that the mean wage of 75 randomly selected workers will exceed $43,000
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