Explore BrainMass

Explore BrainMass

    Data analysis: scatter plot, coefficient of correlation, coefficient of determination, interpretations.

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    A major oil company is studying the relationship between the daily traffic count and the number of gallons of gasoline pumped at company stations. A sample of eight company owned stations is selected and the following information obtained:
    a) develop a scatter diagram with the amount of gasoline pumped as the dependent variable.
    b) compute the coefficient of correlation.
    c) compute the coefficient of determination.
    d) interpret the meaning of the coefficient of determination.

    © BrainMass Inc. brainmass.com March 4, 2021, 9:08 pm ad1c9bdddf


    Solution Summary

    This solution helps explain statistical methods in how to develop a scatter diagram, compute the coefficients of correlation and determination as well as interpret the meanings of these coefficients.