What is the compound amount and compound interest of a $73,000 investment earning 2.9% interest compounded semiannually for 4 years? Round to the nearest whole dollar.
STAT 110: Notes for Week of 11/1/16 Chapter 14 o This chapter will deal with bivariate data: data that has two variables in it. o Bivariate data can be comprised of two quantitative variables, a categorical and a quantitative variable, or two categorical variables. o Scatterplot: a graph that shows the correlation between two quantitative variables. o In a scatterplot, there is usually one explanatory variable (plotted on the x axis) and one response variable (plotted on the y axis) – but not always. A scatterplot can be graphed as long as there are two quantitative variables. o Look for the overall pattern in a scatterplot; this is defined by the direction (positive or negative slope/graph slopes upwards or graph slopes downwards, looking left to right), form (straight, curved, or scattered), and strength (strong, moderate or weak adherence to the form and direction). o Also note any deviations (changes in the pattern) and outliers (single point that deviates from the pattern) from the pattern. o Correlation (r): tells the strength and direction of the correlation between two quantitative variables. o Positive r = positive slope. o Negative r = negative slope. o r is always between -1 and 1. o r only measures linear relationships, not curved or scattered relationships. o r is stronger as it gets closer to -1 or 1; r is w
