I have the answer key already, please explain the steps to solving questions iii
ID: 3201366 • Letter: I
Question
I have the answer key already, please explain the steps to solving questions iii to vi, thank you!
Suppose you get the following as output from a statistical program (this one is from Shazam): What is: i. The mean catch? ii. The variance of effort? iii. The covariance between effort and catch? iv. The correlation between effort and catch? v. Please tell us what the correlation coefficient for effort and catch means. Does it look like effort and catch are correlated? Why or why not? vi. Does it look like catch is increasing over time? Why or why not?Explanation / Answer
From the given output,
i. The mean catch = 31.840
ii. The variance of effort = 236.85
iii. The covariance between effort and catch = 112.05
iv. The correlation between effort and catch = 0.77043
v. There is a positive association between effort and catch. As effort increases, catch also increases. At alpha = 0.05 and n = 34, the critical value of correlation is r = 0.335. Since correlation between effort and catch is 0.77043, which is greater than 0.335 (the critical value of r), it looks like effort and catch are correlated.
vi. Since correlation between effort and catch is positive and significant, as effort increases, catch also increases.