A. Ration Analysis B. Trend Analysis C. The Scatter Plot D. Simulation Forecasts Answer: Option C A graphical method used to help identify the relationship between two variables. Also used in extrapolation as learnt in economic forecasting
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Which of the following tools is suitable to analyse the relationship between two quantitative variables?
A scatterplot is the most useful display technique for comparing two quantitative variables.
Which graphical and numerical measures are used when exploring the relationship between two quantitative variables?
When exploring the relationships between two quantitative variables (case 3)you use a scatterplot and the numerical measure is the correlation coefficient. Good. First define if the variables are categorical or quantitative. Then depending on if the data is approximately symmetrical, you decide which measure to use.