Refer to the data set in Tabk 2.16 . a. Prepare a crosstabulation for the variables Market Value

step 1 Once again, welcome to a new problem. This time we're dealing with statistics. We're dealing wit

Refer to the data set in Tabk 2.16 . a. Prepare a...

Key Concepts

Association Analysis

Association analysis, often performed via a contingency table, examines the relationship between variables to determine if there is any statistically significant correlation or pattern. The interpretation of such a table, including row percentages, helps in identifying potential dependencies or interactions between the studied variables.

Crosstabulation

Crosstabulation is a method used to summarize the relationship between two categorical variables by displaying their frequency distributions in a matrix format. This allows one to visually inspect how the categories of one variable are distributed across the categories of another variable.

Row Percentages

Row percentages involve calculating the proportion of observations within each row of a crosstabulation that fall into each column category. This normalizes the data and facilitates comparisons between rows, especially when the total counts in each row differ.

Transcript

00:03 Once again, welcome to a new problem.

00:07 This time we're dealing with statistics.

00:10 We're dealing with statistics and there are two branches of statistics.

00:14 There's descriptive statistics and then there's also inferential statistics.

00:27 And when you think about descriptive statistics, you have tables, you also have numbers.

00:36 And then you also have graphs.

00:40 In terms of numbers, we have the main, the median.

00:47 We also have the mode.

00:51 And these ones are called the measures of central tendency.

00:59 These are the measures of central tendency.

01:03 Also in terms of numbers, we could have the range.

01:07 We also have the standard deviation.

01:09 And then also we have not just the range of the standard deviation, we also have the interquotile range, which is iqr.

01:22 And these ones that you're seeing, these are the measures of spread.

01:31 When it comes to graphs, you can think about graphs in terms of graphs for categorical variables.

01:40 And then you also have graphs for quantitative variables.

01:50 So we have categorical variables and quantitative variables.

01:54 And if it's categorical, we have things like bar graphs or pie charts.

02:01 For quantitative variables, we have things like histograms and we also have things like scatterplots.

02:12 So histograms and we also have scatter plots.

02:16 When it comes to tables, there are different types of tables you can have.

02:23 You can have what we call a contingency table, and the contingency table is used for cross -stabulation, for purposes of identifying relationships between variables, including categorical variables.

02:56 So in this particular problem, in this particular problem, we have data, we're given data, and the goal of this problem is threefold.

03:13 The first thing is, so the data compares market value versus profit.

03:27 So you have businesses that generate the profits based off of the market values in part a.

03:36 The goal is create a cross -tabulation, create a cross -tabulation for the variables, market value and profit.

04:00 So create cross -stabulation for the variables, market value and profit.

04:08 So that's what we want to do.

04:11 And then in section b, we're saying determine the raw percentages, determine the raw percentages for the cross -stabulation above.

04:32 Population above.

04:35 So we want to do that.

04:37 And then also in part c we're saying, explain, explain the relationship between the variables.

04:56 So you want to explain the relationship between the variables.

04:59 So that's what we're looking for.

05:01 So we're just going to jump right into the problem and the thing we'll do is we want to get their cross -stabulation and they're given an interval so in part a we have the profit and then we also have the market value so the we want to see the relationship between between the profit and the market value.

05:47 So those are two things we want to see, want to see the relationship between the profit and the market value.

05:59 So right here, we have zero to 200.

06:07 We also have 200 to 400.

06:11 We have we have 400 to 600.

06:17 We have 600 to 600.

06:17 We have 600.

06:17 We have 600...

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