What are some real-life applications for scatter plots?
The scatter plot is an excellent quick analytic tool. Looking at a mass of data, I wonder if two variables are related or not, and, if they are, what the relationship is. I quickly dump the data into a scatter plot as a first step. It will tell me if there is any correlation worth investigating. If the scatter is essentially a filled in circle of dots, then there is no correlation. If I see an upward or downward line, there is a linear correlation. More complex correlations have other shapes.Here is a real-world example. Suppose a school runs from 1st to 12th grade. They think they are an above-average school. They have the scores of students on a standardized test like the SAT or the CAT for every graduating senior, and they also know the number of years that that senior was in their school. (Some students started in first grade. Others came to the school in later years.) A scatter plot would show if there is a correlation between the number of years in this school and the SAT or CAT score.Here's a real case where a scatter plot would have provided a quick data analysis. (The real case was done by hand, before computers were widely available. A bakery is barely breaking even. They need to increase revenue to stay in business. They create a data set correlating day of the week and hour of the day with total dollar sales in that hour. So, if they open weekdays 7am to 6pm, they now know how much money is earned each hour of the day, and each day of the week.They do a scatter plot on this. They discover an odd dip - there is much less revenue the first 3 hours every Tuesday morning. They check to see why. They discover that what makes Tuesday different is that the bathroom is cleaned before the store opens on Tuesday morning, and the cleansers do not leave a pleasant smell. They change the routine and clean the bathroom in the evening, before the store closes, and sales go up and the company stays in business. (This example is drawn from the book Honest Business from Shambhala Press.)
Quick Graphing Question (Up and Over...?)?
I think you are referring to using slope to graph a linear equation. Slope = rise/run, so I go up or down, then left or right. So I guess that would be "up and over".
Please help me with Linear Regression homework statistics! Quick help please!?
1) Collectively, individually 2) explanatory, response 3) the y-intercept 4) true 5) raw, standardized 6) positive, false 7) Check that the relationship is actually linear 8) True 9) none of these 10) 11) x 12) true 13) partial correlation 14) no regression line will perfectly fit the data 15) False 16) least-squares Note: I have answered these questions because they were in the answers section of the Yahoo. While I have not deliberately given any falsified answers, I cannot assure all of them are correct.
What websites will help me to prepare for Data Interpretation (DI) for CAT 2017?
The various types of questions you might encounter in the CAT data interpretation section are as follows -TablesPie-ChartsBar-GraphsLine-GraphsWebsites for Free Data Interpretation Practise -Data Interpretation Questions for CATQueskey - Data InterpretationDaily MBA prep centre - QODDaily Solved Tests from Previous Years CAT Papers | Free Daily Tests for CATTo tackle problems on Data Interpretation, here are some valuable tips-1) Practice Regularly - The best way to improve your speed in Data interpretation would be to practice data interpretation questions regularly.The three recommended books for data interpretation for CAT are as follows-Data Interpretation & Logical Reasoning :::Logical Reasoning for the CAT by Nishit K. SinhaHow to Prepare for Logical Reasoning for the CAT by Arun SharmaHow to Prepare for Data Interpretation for the Cat by Arun Sharma2) Improve Your Calculation Speed - Learn new ways to perform arithmetic calculations quickly.For example, to multiply two 2-digit numbers having the same ten’s digit and if their one’s digits add up to 10, say 23 * 27, thenStep 1 - Multiply first digit of one number by the first digit + 1 of the other number :2 * (2 + 1) = 6Step 2 - Multiply the rightmost digits (if result is a single digit number, put a 0 in front of it) :3 * 7 = 21Step 3 - Place the result from Step 2 next to the result from Step 1 :6+21 = 621Similarly, learn to calculate percentages quickly for faster solving of data interpretation questions in CAT.For example, to find 250% of a number, say 250% of 64Step 1 - Divide the number by 4 :64/4 = 16Step 2 - Multiply the number from Step 1 by 10 :16 * 10 = 1603)And remember the following points -In a circular Graph or Charts 100% =360 Degree .Remember formulas and have a very good understanding of Percentages, Averages, Approx. Values and Ratios.Practise calculation with large numbers without calculator so that you are ready for any Aptitude test.As you get better with calculations, try calculating in your mind.And last but not the least, learn to choose questions which are easier during the CAT exam.
Why do economists look at descriptive statistics and plot data before running regressions?
Actually, it is a better practice to look at your data (after formulating your hypothesis! otherwise the risk of data-snooping increases), as graphics tell more than a list with 1000 numbers.You should always do your statistical tests tough, because looks can be deceiving too. (You might have seen a pattern that's not actually there).A friend of mine did research towards the use of statistics between students and professionals (professors and statisticians outside academy). The main difference was that the students relied on their formulas first, and the professionals looked at the data visualizations first.Visuals can help you detect if the model assumptions (normality, homoscedacity,...) are violated (or not)
Science Help fast PLEASE?
That's a hole test...