EBK BUSINESS ANALYTICS
EBK BUSINESS ANALYTICS
3rd Edition
ISBN: 9780135231906
Author: Evans
Publisher: VST
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Concept explainers

Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as p…
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Textbook Question
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Chapter A4, Problem 2PE

Construct histograms using the Histogram chart for the gross sales and gross profit data in the Excel file Sales Data.

Expert Solution & Answer
Check Mark
To determine

To construct histogram for gross sales and gross profit.

Explanation of Solution

Given:

The data contains Customer, Percent gross, gross sales, gross profit, Industry code and competitive rating.

Following is the process to construct histogram for gross sales:

First select column of gross sales then click on

Insert→Charts→Histogram

Histogram for gross sales is:

  EBK BUSINESS ANALYTICS, Chapter A4, Problem 2PE , additional homework tip 1

The shape of the distribution of data is right skewed.

Following is the histogram for gross profit:

  EBK BUSINESS ANALYTICS, Chapter A4, Problem 2PE , additional homework tip 2

The shape of the distribution of data is right skewed.

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Chapter A4 Solutions

EBK BUSINESS ANALYTICS

Ch. A4 - Construct histograms using the Histogram chart for...Ch. A4 - For the Base Data in the Excel file Credit Risk...
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Correlation Vs Regression: Difference Between them with definition & Comparison Chart; Author: Key Differences;https://www.youtube.com/watch?v=Ou2QGSJVd0U;License: Standard YouTube License, CC-BY
Correlation and Regression: Concepts with Illustrative examples; Author: LEARN & APPLY : Lean and Six Sigma;https://www.youtube.com/watch?v=xTpHD5WLuoA;License: Standard YouTube License, CC-BY