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Please answer all questions
1. For the following scatter plot, what would be your best estimate of the correlation coefficient?
2. Elaborated with examples and supportive references as to how can index numbers be helpful in understanding time-related data?
3. Discuss which statistical tests to apply for different types of data and how to interpret the results. Support your answer with suitable examples and supportive references.
4. Nonparametric statistical techniques are based on fewer assumptions about the population and the parameters compared to parametric statistical techniques. Discuss this statement with suitable examples and supportive references.
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The solution provides a brief description of the relationship between two variables and its strength and direction of the relationship.. In addition, we also discuss about the different parametric and non parametric test used at various situations.
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