Copy and paste the data from the table below into Excel. Use the Data Analysis t
ID: 3181925 • Letter: C
Question
Copy and paste the data from the table below into Excel. Use the Data Analysis tools to compute the correlation of all five columns and descriptive statistics of the four petroleum variables.:Then match the item on the left to the answers on the right. WTI and diesel Correlation between week and gasoline Correlation between week and diesel Correlation between gasoline and diesel Average WTI spot price Range of Brent prices Variables with the weakest correlation -0.698 17.702 2.990 0.421 Gasoline and Diesel 17.798 -0.958 0.990 None of the answers on this list matches this question. Week and Gasoline -0.196 0.904 4.690 0.319 0.106Explanation / Answer
The data given in the question statement is as below:
Analyzing this data in excel:
1) Correlation between Week and Gasoline = 0.990
Hence, Answer is Option - I
2) Correlation between Week and Diesel = 0.319
Hence, Answer is Option - O
3) Correlation between Gasoline and Diesel = 0.421
Hence, Answer is Option - E
4) Average WTI Spot Price = Sum(WTI Crude) / 20 = 355.23/20 = 17.762
Hence, Answer is Option - C
5) Range of Brent Price = Max(Brent Crude) - Min(Brent Crude) = 18.09 - 13.40 = 4.69
Hence, Answer is Option - N
6) The possible variable combinations and the correlation values between them can be shown as in table below:
From above table, we can see that the weakest correlation is between Diesel and WTI Crude
Hence, Answer is Option - A
Week Diesel Gasoline WTI Crude Brent Crude 1 1.106 1.007 14.82 14.18 2 1.107 1.012 15.15 14.59 3 1.109 1.011 14.44 13.4 4 1.108 1.028 15.65 14.34 5 1.105 1.033 16.07 15.01 6 1.106 1.037 17.02 15.56 7 1.104 1.04 16.93 15.84 8 1.101 1.045 17.2 16 9 1.099 1.046 17.93 16.29 10 1.099 1.05 18.21 16.08 11 1.098 1.056 18.14 16.35 12 1.101 1.065 18.24 16.27 13 1.098 1.073 18.26 16.06 14 1.103 1.079 19.61 16.67 15 1.108 1.095 19.8 17.44 16 1.109 1.097 19.16 17.34 17 1.11 1.103 19.39 17.06 18 1.111 1.109 20.16 18.09 19 1.111 1.114 19.39 17.42 20 1.116 1.13 19.66 17.82