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Revenue and talent cost A concert production company

Chapter 8, Problem 2E

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QUESTION:

Problem 2E

Revenue and talent cost A concert production company examined its records. The manager made the following scatterplot. The company places concerts in two venues, a smaller, more intimate theater (plotted with blue circles) and a larger auditorium-style venue (red x’s).

a) Describe the relationship between Talent Cost and Total Revenue. (Remember: direction, form, strength, outliers.)

b) How are the results for the two venues similar?

c) How are they different?

Questions & Answers

QUESTION:

Problem 2E

Revenue and talent cost A concert production company examined its records. The manager made the following scatterplot. The company places concerts in two venues, a smaller, more intimate theater (plotted with blue circles) and a larger auditorium-style venue (red x’s).

a) Describe the relationship between Talent Cost and Total Revenue. (Remember: direction, form, strength, outliers.)

b) How are the results for the two venues similar?

c) How are they different?

ANSWER:

Step 1 of 3

(a) Direction: Positive, because the pattern in the scatterplot slopes upwards.

Form: Linear, because there is no strong curvature in the scatterplot.

Strength: Weak, because the points appear to be spread far aparat

Outliers: The right most point in the scatterplot appears to be an outlier, because the point deviates strongly from the rest of the points.

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