QNT 561 Week 6 DQ’s

1. What does the correlation analysis study?  Explain with a numerical example. 

2. Define an independent variable and a dependent variable.  Provide one example data set for the dependent variable and the independent variable you have defined. Draw a scatter diagram by using Excel Chart Wizard to draw a scatter of the dependent variable and the independent variables to show graphically that there is a relationship between the dependent variable and the independent variables in the example data set (you have provided).  Post your scatter as a word attachment; that is, you cut your excel diagram into a word document and post it as an attachment.

3. How can you test the significance of a correlation coefficient?  Please give a numerical example with a hypothetical data showing all five steps from hypotheses to conclusion.