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Statistical Problems

Statistics: McDonald - Employees (Mall Marketing credit cards)

View Solution # 27235

Price: $3.00

PROBLEM 12:
The McDonald has several employees roaming the mall marketing credit cards. To best determine what age group to target aggressively, data was collected related to the age of shoppers versus the number of credit cards they’ve already “maxed out”.

Age   Number of Credit Cards
16   4
16   7
17   3
18   8
18   5
19   7
20   9
21   4
21   8
22   10
23   10
23   9

a.Calculate the following statistically useful quantities.
EX
EY
EXY
EX2
EY2

b.Calculate the correlation coefficients.
R
R2

c.Is there a strong correlation?

d.Describe the line of regression (in Y=mX+b format)

e.Depict the data on a scatter plot.

f.What does the regression line formula tell you about the data? What should the marketers conclude?

Solution

a. The statistical values are computed using the standard formula
b. The correlation coefficient and R sqr. values are computed (steps included)
c. Discussion on the degree of correlation
d. Line of regression is found in the Y = mX + b format
e. Scatter plot is drawn using MS Excel and presented in the solution
f. Analysis of the Regression line

No. of Words: n/a Help

References: n/a Help

Price: $3.00

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