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What is the relationship between weekly expenditures

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Reference no: EM132855473

Suppose you have collected the following sample data from twenty-six randomly selected Dallas area families regarding their Weekly Expenditures on Video Rentals and Weekly Expenditures on Dining Out:

Observation Number

Weekly Expenditures

Video Rentals

Dining Out

1

$12

$28

2

$12

$27

3

$6

$32

4

$13

$32

5

$7

$25

6

$10

$24

7

$8

$27

8

$4

$20

9

$4

$32

10

$13

$35

11

$5

$30

12

$9

$22

13

$12

$31

14

$9

$25

15

$12

$28

16

$4

$34

17

$14

$36

18

$10

$24

19

$5

$29

20

$18

$42

21

$15

$41

22

$6

$26

23

$6

$28

24

$4

$40

25

$11

$21

26

$9

$24

Explain your answers below in detail (use analytical tools such as correlation and regression when necessary)

Problem 1: What is the relationship between weekly expenditures of video rentals and dining out?

Problem 2: If you were to reach out to these households, what other data would you be interested in collecting in order to understand their consumption behavior?

Problem 3: What other types of products do you think these families would be interested in?

Reference no: EM132855473

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