I just need an explanation with the answers for numbers 1-4. Thanks Assume you a

Question

I just need an explanation with the answers for numbers 1-4. Thanks

Assume you are studying automobile characteristics. You search for related characteristics of automobiles and then find which of those characteristics most affects the price of an automobile. After you find the variable with the strongest correlation to price, you search for an effective prediction equation. Use the computer outputs to answer the following questions. How many different correlations are shown in the first computer output? Which variables show the strongest linear correlation? Which variables show the weakest linear correlation? As price of the cars increases, does miles-per-gallon on the highway tend to increase? Is there a negative linear correlation between turning diameter and horsepower? As horsepower increases does the price of the car tend to increase? What range of values do the correlations fall within? Part 1 Outputs Correlations (Pearson) turndiam mpg-hwy horsepow mpg-hwy -0.333 horsepow 0.510 -0.618 price 0.367 -0.638 0.723

Explanation / Answer

We are allowed to answer only 4 subparts at a time. Please post again for remaining.

1) 6 different correlations have been calculated here as shown in the table.

2)For strong correlation, see the absolute largest value of correlation coefficients.

So, here strongest is between price and horsepower i.e. 72.3%

3) Wekaest is between mpg-hwy and tundiam i.e. - 33.33%

4) We can see from table that price and miles per gallon are negatively correlated.

So, if price increases miles per gallon will decrease.

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