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Chapter Fourteen Examining Associations Correlation and Regression Did You Know that Degree Color and Race Make a Difference in Home Refinancing A study found that broker fees for purchasers without a college degree pay 1 472 more than those with a college degree No only did a degree matter but race was also a factor African Americans on average paid 500 more than whites Hispanics 275 more than whites Regression analysis was used to determine whether various borrower characteristics had a bearing on the amount of broker fees and closing costs paid Did You Know that Disaster Area Declarations are Related to Electoral Votes A study revealed states that had been declared disaster areas are crucial to presidential elections Regression analysis revealed that states that are likely to be declared disaster areas were the states that were highest in electoral votes Did You Know that the Presence of an NFL Team Boost Rental Costs Regression analysis has revealed that in cities with an NFL team rental costs for apartment in the central city area were 8 percent higher than in cities without an NFL team Property tax receipts were also found to be higher in cities with NFL teams Overview of Techniques for Examining Associations Spearman Correlation Coefficient Technique The technique is appropriate when The degree of association between two sets of ranks pertaining to two variables is to be examined Illustrative research question s this technique can answer Is there a significant relationship between motivation levels of salespeople and the quality of their performance Assume that the data on motivation and quality of performance are in the form of ranks say 1 through 20 for 20 salespeople who were evaluated subjectively by their supervisor on each variable Overview of Techniques for Examining Associations Cont d Pearson Correlation Coefficient Technique This technique is appropriate when The degree of association between two metric scaled interval or ratio variables is to be



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