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Scatter Plots and Correlation, Worksheets, Excel Workbook, Scatter, Correlation, Scatter Plot, Blank Columns, Top Toolbar, Chart Wizard, Input Range Box are some points from Statistics and Econometrics lecture notes.
Typology: Study notes
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Scatter Plots and Correlation
Set-up: Open the data for this exercise Open the data set called “baseball data” from the IMB 537 web page.
A. Constructing a scatter plot for two variables:
POP ATTEND CAPACITY ATTEND PRIORWIN ATTEND CURNTWIN ATTEND TEAMS ATTEND 4353 2704.794 52.806 2704.794 92 2704.794 104 2704.794 3 2704. 2803 2110.009 43.737 2110.009 89 2110.009 89 2110.009 2 2110. 9120 1821.815 57.545 1821.815 91 1821.815 87 1821.815 7 1821. 2763 1661.618 33.583 1661.618 84 1661.618 86 1661.618 2 1661. 2174 2045.784 53.197 2045.784 98 2045.784 85 2045.784 1 2045. … … … … … ... … … … …
Repeat the above procedure for ATTEND and each other variable, so that you have a total of 5 scatter plots. An important thing to note here is that we are assuming that attendance is dependent upon the other
variables. This is why we put ATTEND to the right of each of the other columns – excel always puts the variable on the right on the Y axis.
Question: Do you see any outliers in the data? What types of relationships do you observe between these variables?
Part VI. Correlation We’re going calculate the correlation coefficients for all combinations of the 4 variables used above.
Your output should consist of a 6 x 6 matrix. The correlation coefficient between two variables is found in the corresponding off-diagonal element of the matrix.
Questions: How would you describe the strength and direction of each of the relationships? Do these coefficients back-up your scatter plots?