COMM 291 – Application of Statistics in Business (Jan–Apr 2014)
ASSIGNMENT 3 – Submit Online to Connect
Due 1:00 pm, Wednesday, February 26, 2014
THIS IS PART 1 OF ASSIGNMENT 3. PART 2 IS ONLINE.
Instructions and Advice:
•
IMPORTANT!
Submit your solutions as a PDF (not as a Word or Excel file).
•
Part 1 of the assignment consists of three questions.
•
Data for Question 3 are in the companion Excel spreadsheet
<Asst3_2014_Data.xlsx>.
•
Present the parts of your answers in the same order as the questions are asked.
•
Do not include any original data in your printed submission.
•
Maintain all precision in your calculator or in Excel as you do your multistep
computations. Round off to fewer decimal places only when you write your work and the
final answer down to hand in.
•
When formatting numbers in Excel, display only as many decimal places as provide
decisionmaking value to the reader.
IMPORTANT:
Use the following naming convention for the file you submit online.
Assignment#_Surname_GivenNames_291_Section.pdf
(where #=1, 2, 3, 4, 5, or 6 and Section = 201 or 202 or 203)
If I were a student in Section 201, my solutions PDF document for Assignment 3 would be
called:
Assignment1_Berkowitz_Jonathan_291_201.pdf
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Question 1 – Interpreting or Misinterpreting Correlation
a)
If we assume that the conditions for correlation are met, which of the following are true? If
false, explain briefly.
A correlation of 0.02 indicates a strong positive association.
False. A correlation o f
zero indicates no association. A correlation close
of
1 indicates
a
strong
positive association and
a
correlation
close
to
‐‐‐1
indicates
a
strong
negative
correlation.
This
indicates a weak positive association.
Standardizing the variables will make the correlation 0.
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 Spring '10
 JohnBerkowitz
 Correlation, Linear Regression, Regression Analysis, Errors and residuals in statistics

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