Scatter Diagram Analysis Math Problem
Notes for Tutor: This class is BUSINESS STATISTICS, no economics is involved. Can you use Excel for the scatter graph and also use Microsoft Word to answer the questions in essay form for Question # 2. Thank you.
Scatter Diagram Analysis
The regional sales manager for American Toys, Inc., recently collected data on weekly sales (in dollars) for the 15 stores in his region. He also collected data on the number of salesclerk work hours during the week for each of the stores. The data are as follows:
Store Sales Hours
1 23,300 120
2 25,600 135
3 19,200 96
4 10,211 102
5 19,330 240
6 35,789 190
7 12,540 108
8 43,150 234
9 27,886 140
10 54,156 300
11 34,080 254
12 25,900 180
13 36,400 270
14 25,760 175
15 31,500 256
To complete this assignment:
1. Use Excel to develop a scatter diagram of the data, including dependent and independent variables on their correct axis.
2. In a Word document, analyze the relationship between sales and number of clerk hours worked.
Conclude, based on the scatter diagram, what adjustments the sales manager might make to address the relationship between sales and number of clerk hours worked.
Submit your work in a Word document with your Excel file attached.
Scatter Diagram Analysis Math Problem
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Analysis of the relationship between sales and the number of clerk hours worked.
The dependent variable is sales, while the number of clerk hours worked is the independent variable, and the scatter plot reflects the paired values of the two variables. There is a direct relationship between the two variables, such that as the number of clerk hours worked increases, so too is the sales. In the scatter diagram, the vertical position corresponds to the sales, while the horizontal position corresponds to the hours. Scatter diagrams help to determine whether there are consistent patterns in the data as reflected in how the data is presented (Gravetter et al., 2020). If a clerk works more hours, the sales increase, and if the numbers of hours are reduced, the sale will decrease. There would be a perfect linear relationship when the correlation coefficient and coefficient of determination are equal to one (King et al, 2018). The daily wage depends on the nu...