Techniques Correlation Term Paper

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Mathematics

Analysis Techniques: Correlation

A positive correlation between annual income and amount spent on car would be expected. This means that there is a relationship between the two and that, in general, higher annual income would show an increase in the amount spent on car, while lower annual income would show a decrease in the amount spent on car.

However, it would not be expected that this would be a strong relationship because other factors would influence the amount spent on car. For example, some individuals with an income in the middle range may consider an expensive car a key priority, while others would have other priorities. In addition, annual income level is not a true measure of wealth because it does not take into account a person's expenses.

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For example, a young single person without a family and without a mortgage would have more disposable income than a married person with four children and a mortgage. These other considerations suggest that there will be a general trend showing that higher income level shows an increase in the amount spent on car. However, other factors would make this a weak correlation.

A consideration of the data also suggests a weak correlation. It can be seen that there is a general trend toward annual income level increasing the amount spent on a car. This is especially seen with the lowest income and the highest income. However, there are also exceptions to the trend,….....

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