Suppose you have collected the following sample data from twenty-six randomly selected Dallas area families regarding their Weekly Expenditures on Video Rentals and Weekly Expenditures on Dining Out:
Observation Number
Weekly Expenditures
Video Rentals
Dining Out
1
$12
$28
2
$12
$27
3
$6
$32
4
$13
$32
5
$7
$25
6
$10
$24
7
$8
$27
8
$4
$20
9
$4
$32
10
$13
$35
11
$5
$30
12
$9
$22
13
$12
$31
14
$9
$25
15
$12
$28
16
$4
$34
17
$14
$36
18
$10
$24
19
$5
$29
20
$18
$42
21
$15
$41
22
$6
$26
23
$6
$28
24
$4
$40
25
$11
$21
26
$9
$24
Explain your answers below in detail (use analytical tools such as correlation and regression when necessary)
Q1: What is the relationship between weekly expenditures of video rentals and dining out?
Q2: If you were to reach out to these households, what other data would you be interested in collecting in order to understand their consumption behavior?
Q3: What other types of products do you think these families would be interested in?
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