Solution Found!
Revenue and talent cost A concert production company
Chapter 8, Problem 2E(choose chapter or problem)
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.