In a short essay, discuss the characteristics and uses of a scatter diagram. Include a discussion of the least-squares procedure to support your answer
What will be an ideal response?
A scatter diagram, or scattergram, is a plot of the values of two variables for all the cases or observations. It is customary to plot the dependent variable on the vertical axis and the independent variable on the horizontal axis. A scatter diagram is useful for determining the form of the relationship between the variables. A scatter plot can alter the researcher to any patterns or problems in the data. Any unusual combinations of the two variables can be easily identified. The most commonly used technique for fitting a straight line to a scattergram is the least-squares procedure. This technique determines the best-fitting line by minimizing the vertical distances of all the points from the line. The best fitting line is called the regression line. Any point that does not fall on the regression line is not fully accounted for. The vertical distance from the point to the line is the error.
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Governmental auditing often extends beyond examinations leading to the expression of an opinion on the fairness of financial presentation and includes audits of efficiency, effectiveness, and:
A. compliance. B. accuracy. C. monetary stimulus. D. evaluation.
The annual discount rate is 9%. Compute the present value of the second option. (Round to nearest whole dollar.)
Edward Hughes has just won the state lottery and has the following three payout options for after-tax prize money:
1. $166,000 per year at the end of each of the next six years
2. $306,000 (lump sum) now
3. $518,000 (lump sum) six years from now
A) $684,000
B) $103,600
C) $414,400
D) $306,000
At the ________ level of moral development, people do the right thing regardless of leaders or group ethics.
A. preconventional level B. conventional level C. postconventional level D. neoconventional level
Processes are all linear.
a. True b. False