To view all organizational processes in a single glance, a graphical tool came in use which is known as scatter plot. The scatter plot analyzes the correlation between important organizational or process variables. There are two types of plots drawn - bivariate and multivariate. A bivariate scatter plot is drawn when only 2 variables are studies together to find out their impact. When more than 2 variables are studied together to find out their impact, it is known as a multivariate scatter plot.
Suppose two variables are studied and there exists a high degree of correlation, it gives a fair idea to management to run the business better and improve the processes. Scatter plot is quite useful in the production process to improve productivity and eliminate cost.
Go to the St. Louis Federal Reserve FRED database, and
For each of the following pairs of variables, pull the data
Lori created a scatter plot where the explanatory variable was the side
You are given the following set of data: /
Describe a specific situation when a scatter plot could be useful to
Go to the St. Louis Federal Reserve FRED database, and
You get paid on the first day of each month. You
Each month you have $200 automatically deposited from your checking account
Brad is about to purchase an additional asset for his well-
Construct a scatter plot using the year number as the x-
